Chinese port operator China Merchants Holdings (International) Ltd. said Thursday it is close to finalizing a deal to form a 50-50 joint venture that will build and operate a container terminal in Qingdao.
The blue-chip company, a unit of state-owned China Merchants Group, said the total investment in the planned joint venture will be around CNY6.2 billion. It declined to name the other party in the venture, but said it is an independent third party.
China Merchants said the planned container terminal in the eastern China city of Qingdao will have nine berths when completed.
China Merchants is the largest container terminal operator by volume in Shenzhen, mainland China's second-biggest port by volume after Shanghai.
It also has stakes in ports in Shanghai, Hong Kong, Tianjin, Qingdao, Ningbo and Zhangzhou.
The blue-chip company, a unit of state-owned China Merchants Group, said the total investment in the planned joint venture will be around CNY6.2 billion. It declined to name the other party in the venture, but said it is an independent third party.
China Merchants said the planned container terminal in the eastern China city of Qingdao will have nine berths when completed.
China Merchants is the largest container terminal operator by volume in Shenzhen, mainland China's second-biggest port by volume after Shanghai.
It also has stakes in ports in Shanghai, Hong Kong, Tianjin, Qingdao, Ningbo and Zhangzhou.