Dalian Port to sell terminals to shipping consortium

Shanghai: The authorities at China's Dalian Port have announced that they are to sell two of the company's container berths and related facilities to the Dalian Port Container Terminal company, reports Reuters. The consortium, made up of the Dalian Port Container Company (which owns 35% share), PSA China (25%), APM Terminals Dalian (20%) and COSCO Ports (20%), will pay a whopping 1.25bn yuan ($166.4m) for the berths.

The sale will net the port a profit of 221m yuan ($29.4m), which will be used to pay back its debts and fund developments at its other locations.  [12/10/07]