In another addition to their recent spate of port acquisitions, China Shipping Terminal, part of the China Shipping (Group) Company, has signed an agreement with the Fuzhou Port Group to acquire 20% of container facilities currently being built at Fuzhou's Jiangyin New Port.
China Shipping Terminal would also own shares in container terminals that could be developed in the future.
The project to build Jiangyin New Port's container facilities is due for completion by October 2008.
When it comes on stream then, there will be five container berths with a handling capacity of three million twenty-foot equivalent units (TEUs).
In terms of mainland Chinese acquisitions, China Shipping also recently signed an agreement for a container terminal joint venture with the Yingkou Port Group.
The joint venture company to run two container berths at Liaoning province's port of Yingkou is reportedly part of China Shipping efforts to diversify into cargo terminal handling via domestic and global acquisitions.
The Yingkou project boasts throughput capacity of one million TEUs and officials are expecting the joint venture to handle more than 600,000 TEUs per year.
China Shipping Terminal will own 40% of the new facilities while the Yingkou Port Group holds the remaining 60%.
In terms of its international portfolio, China Shipping also recently signed a 20% acquisition of Egypt's container port of Damietta.
First phase development of the $200 million six berth project is expected to be completed and come on stream end 2008 with a handling capacity of 2.5 million TEUs per year.
Completion of second phase development is slated to boost the port's handling capacity to 4 million TEUs per year.
China Shipping Terminal would also own shares in container terminals that could be developed in the future.
The project to build Jiangyin New Port's container facilities is due for completion by October 2008.
When it comes on stream then, there will be five container berths with a handling capacity of three million twenty-foot equivalent units (TEUs).
In terms of mainland Chinese acquisitions, China Shipping also recently signed an agreement for a container terminal joint venture with the Yingkou Port Group.
The joint venture company to run two container berths at Liaoning province's port of Yingkou is reportedly part of China Shipping efforts to diversify into cargo terminal handling via domestic and global acquisitions.
The Yingkou project boasts throughput capacity of one million TEUs and officials are expecting the joint venture to handle more than 600,000 TEUs per year.
China Shipping Terminal will own 40% of the new facilities while the Yingkou Port Group holds the remaining 60%.
In terms of its international portfolio, China Shipping also recently signed a 20% acquisition of Egypt's container port of Damietta.
First phase development of the $200 million six berth project is expected to be completed and come on stream end 2008 with a handling capacity of 2.5 million TEUs per year.
Completion of second phase development is slated to boost the port's handling capacity to 4 million TEUs per year.