Hong Kong-listed Chu Kong Shipping Development is planning to construct a new terminal in the Pearl River Delta through a joint venture, a news report said.
The joint venture partner will be China's state-owned investment firm Guangzhou Nansha Assets Operations, Lloyd's List reported.
The project proposes a terminal in Nansha port, Guangzhou city, with a total area of about 200,000 square metres and two 3,000 dwt berths.
The two companies have entered into an agreement to jointly establish the terminal with a registered capital of 50 million yuan ($7.3 million).
Chu Kong owns 65% in the joint venture while Guangzhou Nansha takes 35%. Chu Kong will contribute 32.5 million yuan ($4.8 million) and the remainder will be funded by the Chinese firm.
The terminal project will be financed using internal resources and the total investment is expected to be 125 million yuan ($18.3 million).
Chu Kong has recently been developing its coverage in the ports of the Pearl River Delta. It owns controlling stakes in major ports in the region such as Foshan Nankong Terminal, Sanshui Sangang Containers Wharf and Chu Kong Cargo Terminals (Gaoming).
The joint venture partner will be China's state-owned investment firm Guangzhou Nansha Assets Operations, Lloyd's List reported.
The project proposes a terminal in Nansha port, Guangzhou city, with a total area of about 200,000 square metres and two 3,000 dwt berths.
The two companies have entered into an agreement to jointly establish the terminal with a registered capital of 50 million yuan ($7.3 million).
Chu Kong owns 65% in the joint venture while Guangzhou Nansha takes 35%. Chu Kong will contribute 32.5 million yuan ($4.8 million) and the remainder will be funded by the Chinese firm.
The terminal project will be financed using internal resources and the total investment is expected to be 125 million yuan ($18.3 million).
Chu Kong has recently been developing its coverage in the ports of the Pearl River Delta. It owns controlling stakes in major ports in the region such as Foshan Nankong Terminal, Sanshui Sangang Containers Wharf and Chu Kong Cargo Terminals (Gaoming).