Shipping company China Cosco Holdings said its subsidiary will invest about US$126 million to form a 70 percent-owned container terminal joint venture in China's Fujian province.
Cosco Pacific will team up with Chinese partner Xiamen Haicang Investment General to set up the joint venture firm in Xiamen with registered capital of $179 million.
The venture firm, involving a total investment of up to $537 million, will construct and operate a container terminal at the port of Haicang.
China Cosco said the deal would be funded through internal resources and external financing.
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