Shanghai: Shenzhen Yantian Port has announced that it plans to set up a joint venture called Huangshi Qipanzhou Port Company with Huangshi Communications Investment Company in Hubei.
Yantian Port will invest RMB400m to occupy 80% equity interest in the jv, and Huangshi Communications Investment Company will occupy the remaining 20%.
The jv will be dedicated to the management and operation of Qipanzhou Port on the Yangtze River, and the development of port infrastructure.
Yantian Port said the investment is a response to the central government’s call to developing shipping on the Yangtze River and is in line with the company’s strategy for development. Yantian has in recent years stretched its investments further and further inland in a bid to lure traffic to its port. [26/11/14]