Chinese port Jiangsu Lianyungang and China Shipping Terminal have entered into a joint venture deal to develop terminal facilities in the areas of dry bulk cargoes loading and warehouses capacity, Seatrade Asia online reports.
The RMB100m ($15.7m) joint venture will be 51% controlled by Lianyungang Port and 40% owned by China Shipping Terminal, the ports division of China Shipping Development.
The two companies believed they will be able to tap on their individual expertise to enhance their technological edge and improve services to attract larger volume of cargoes and generate higher revenues.
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