Greater China

SIPG restructures as expansion beckons at Yangshan

Shanghai: Shanghai International Port Group (SIPG) is considering offering stakes to employees, according to Chen Xuyuan, president of SIPG.

Chen said SIPG is now making plans to optimise the company’s equity structure.

“The next five years are the key five years for SIPG, we have formed a professional investment team to look for investment opportunities overseas,” Chen said.

SIPG is currently planning a restructuring deal with Shanghai Tongsheng Investment Group, which is the owner of the first phase of Yangshan Deep Water Port, while it is likely to operate the fourth phase of Yangshan, which has just been given the go ahead for construction from Beijing’s National Development and Reform Commission. The fourth phase will add seven berths over 2.8 km for an extra annual 6.3m teu in capacity. The two-year construction will start shortly.  [10/11/14]

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