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Shanghai International Port Group (SIPG) has announced that it will buy 70 per cent of Jiujiang Port Group Co., Ltd., which operates the port of Jiujiang.
SIPG also expects to invest in port Jiujiang's Chengxi's expansion through a joint venture company, a project that would include building two container berths, two bulk cargo berths and a logistics park.
SIPG's announcement said it is still in talks with the government of Jiujiang city on details of the deal, though the two port groups have signed a co-operation agreement in May, said Xinhua.
Jiujiang is a small, less developed Yangtze River port in Jiangxi province. But an industry insider said SIPG chose to make the investment because of its location at the point where Beijing-Kowloon Railway crosses the Yangtze River.
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