SIPG to sell 20 percent equity in Mingdong Container Terminal

Shanghai: Shanghai International Port Group (SIPG) announced that it has listed its 20% equity in Shanghai Mingdong Container Terminal (SMCT) for sale at Shanghai United Assets and Equity Exchange.

SMCT is a joint venture between SIPG and Hutchison Port Holdings, each of them holding 50% equity in the company.

SIPG reported a net profit of RMB340m in the first half of this year, and it said the sale is part of the company’s strategic plan. [15/08/14]

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