The parent of Dalian Port (PDA) Co Ltd will buy Jinzhou Port this year, the mayor of the northern city of Dalian said on Thursday. Xia Deren was talking to reporters on the sidelines of the annual parliamentary meeting, but did not mention a price. "We are ready to take control of Jinzhou Port this year," Xia said. "We have the plan and are in negotiations."
Last year, Jinzhou Port said Dalian Port would buy an 18.9 percent stake in it for about 1.91 billion yuan ($278 million) to become its second-biggest shareholder and a strategic partner.
Xia also said Dalian Port's February container throughput fell 10 percent from a year earlier, its largest drop ever.
"It is the worst month for the port in history," Xia said.
This year will be another tough year for the port, as the gloomy world economy is expected to further damp cross border trade, said Xia, adding that he was hoping to see some recovering signs in the second half of the year.
Dalian port, which operates China's second-largest oil port, said in January total container throughput at its terminals rose 28.3 percent year-on-year to 5.452 million twenty-foot equivalent units (TEU) in 2008.
Last year, Jinzhou Port said Dalian Port would buy an 18.9 percent stake in it for about 1.91 billion yuan ($278 million) to become its second-biggest shareholder and a strategic partner.
Xia also said Dalian Port's February container throughput fell 10 percent from a year earlier, its largest drop ever.
"It is the worst month for the port in history," Xia said.
This year will be another tough year for the port, as the gloomy world economy is expected to further damp cross border trade, said Xia, adding that he was hoping to see some recovering signs in the second half of the year.
Dalian port, which operates China's second-largest oil port, said in January total container throughput at its terminals rose 28.3 percent year-on-year to 5.452 million twenty-foot equivalent units (TEU) in 2008.