France's CMA CGM Group has signed an agreement with Xiamen Municipality and Hong Kong's New World Services Holding Ltd for the development of Xiamen's Haicang port in southern Fujian province.
Under the agreement, CMA CGM and its partners will construct and manage a deep water container terminal which will become operational in 2009, the French company said in a statement. No financial details were provided.
The port of Xiamen ranks 22nd in the world in container traffic with over four mln teus (20-foot equivalent units) in 2006 and 13 pct growth expected for 2007, the statement said.
CMA CGM is the third largest container shipping group for international traffic in China, with 280,000 teus planned for 2007, it added.
This will be CMA CGM's first port investment project in China.
CMA CGM's president Jacques Saade added that the group also wishes to invest in northeast China's Tianjin port and Shanghai's Yangshan port.
The announcement comes during French president Nicolas Sarkozy's visit to China, which has seen other deals for the likes of Areva, Airbus and Alcatel-Lucent.
Under the agreement, CMA CGM and its partners will construct and manage a deep water container terminal which will become operational in 2009, the French company said in a statement. No financial details were provided.
The port of Xiamen ranks 22nd in the world in container traffic with over four mln teus (20-foot equivalent units) in 2006 and 13 pct growth expected for 2007, the statement said.
CMA CGM is the third largest container shipping group for international traffic in China, with 280,000 teus planned for 2007, it added.
This will be CMA CGM's first port investment project in China.
CMA CGM's president Jacques Saade added that the group also wishes to invest in northeast China's Tianjin port and Shanghai's Yangshan port.
The announcement comes during French president Nicolas Sarkozy's visit to China, which has seen other deals for the likes of Areva, Airbus and Alcatel-Lucent.