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CIG Ports to group business into three sections

Hong Kong: Port construction and operation company CIG Yangtze Ports PLC plans to group businesses into three major divisions. The company plans to realign business along three directions: ports, logistics, and distribution and sales. Company's chairman Chow Kwong-fai says the two operating container berths at Wuhan container terminal can handle about 400,000 teu a year. After the phase 2 construction of the Wuhan terminal in 2012, which includes four berths and two extra-large berths, the company will have an annual container handling capacity of 1.2 million teu in total. Chow says, due to high loan rates in China, the company may consider seeking financing in Hong Kong. [7/5/08]

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