Zhuhai Port raises $195m

Zhuhai Port raises $195m

Zhuhai Port Group has signed equity financing agreements with two state-run funds and raised a total of RMB1.35bn ($195m).

In a deal with Guangdong Silk Road Fund, which was established in October 2016, Zhuhai Port has received RMB599m ($86.6m) equity investment to fund the construction of four 100,000 dwt container berths.

The port operator also signed with Pearl River Delta Optimization Development Fund, under which, the fund has agreed to inject RMB750m ($108.5m) into Zhuhai Port’s subsidiary Zhuhai International Container Terminal (Gaolan) Company.

Zhuhai Port said the RMB750m investment will optimize the group’s structure of assets and liabilities.

Zhuhai Port completed a cargo throughput and container volume of 90.43m tons and 1.56m teu in 2016, up 27.8% and 28.88% year-on-year respectively.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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