Dalian: Hong-Kong listed Qinhuangdao Port Group announced that it has entered into an agreement with Tianjin Port Group to establish a joint venture Bohai Port Investment.
Total registered capital of the jv is RMB2bn, with the two companies each investing RMB1bn to get 50% of the equity.
“The synergistic development among Beijing-Tianjin-Hebei has become a national strategy of the PRC. Under this background, the cooperation among large-scale ports enterprises with the region is in line with development trends of the port industry in China,” Qinhuangdao Port said in a release.
Qinhuangdao Port will make use of the advantages of Tainjin Port Group in terms of port logistics, shiping route resources and port finance, so as to speed up the container business of the port.
The jv will be set up in the Tianjin Dongjiang Bonded Port Area. [11/08/14]