Dalian Port Container, a 91 percent owned offshoot of Dalian Port, has formed a joint venture with Qinhuangdao Port Group and China Shipping Terminal Development to operate two container terminals at Qinhuangdao in northern China.
The deal was confirmed by Dalian Port, which said the three companies would form Qinhuangdao Port New Harbour Container Terminal with a registered capital of US$53.4million. The joint venture company is expected to be formally created by the end of November.
Under the terms of the deal Qinhuangdao Port Group will hold a 55 percent stake in the joint venture company.
China Shipping Terminal Development will have 30 percent and Dalian Port Container 15 percent.
Dalian Port said the investment by the joint venture would mainly be spent acquiring container handling and other terminal equipment from Qinhuangdao Port Group.
Qinhuangdao Port New Harbour Container Terminal will operate container terminals 24 and 25 at Qinhuangdao.
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