Shanghai: China Merchants Holdings (International) Co. Ltd. and Tianjin Port Co., Ltd. Are to invest CNY 600 million in building and managing a logistics processing area in the Dongjiang Bonded Port Area of the Port of Tianjin.
The project, which will be situated in the south of the logistics processing area in the first phase of the bonded area, will cover 150,000 square meters in the first phase including six bonded warehouses with a construction period of about one year. The two parties will invest CNY 210 million in set up a venture to take charge of the project.
Dongjiang Bonded Port Area, which covers 100,000 square meters, will be the second and largest bonded port area in China. It is composed of two main sections, dock working section and logistics processing section. [02/08/07]
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