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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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