State-owned China Ocean Shipping (Group) Co (Cosco) is weighing up investment in a container terminal in the Taiwan city of Kaohsiung, a facility being jointly developed by port investor Yang Ming Marine Transport Corp and the Taiwan government.
"We're still in discussions," Cosco Group president Wei Jiafu told Dow Jones Newswires on the sidelines of the Boao Energy, Resources and Development Conference in Perth, Australia.
Talks with Yang Ming Marine have been ongoing since at least the end of last year, and Wei has said previously that any deal would be done through Cosco Pacific, the company's Hong Kong-listed port investment arm.
Yang Ming Marine said in October last year it received separate offers from China Ocean Shipping (Group) and China Merchants Group for a total 40 percent stake in a US$659 million terminal in Taiwan's largest port.
If the planned investment receives approval from the Taiwan government, it would be the first such investment in a Taiwan port by a Chinese entity.
"We're still in discussions," Cosco Group president Wei Jiafu told Dow Jones Newswires on the sidelines of the Boao Energy, Resources and Development Conference in Perth, Australia.
Talks with Yang Ming Marine have been ongoing since at least the end of last year, and Wei has said previously that any deal would be done through Cosco Pacific, the company's Hong Kong-listed port investment arm.
Yang Ming Marine said in October last year it received separate offers from China Ocean Shipping (Group) and China Merchants Group for a total 40 percent stake in a US$659 million terminal in Taiwan's largest port.
If the planned investment receives approval from the Taiwan government, it would be the first such investment in a Taiwan port by a Chinese entity.