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Evergreen-CMA CGM considering Tianjin berth investment

Evergreen-CMA CGM considering Tianjin berth investment

Shanghai: Hao Yunhui, deputy director for investment at Tianjin Port (pictured) has said that the group is currently in negotiations with Evergreen and CMA CGM for investment in the port. During an interview with the South China Morning Port, Yunhui said that the Taiwan and France-based container liner companies could hold as much as a 40% stake in the RMB 3bn ($391.9m) port expansion project.

The port authority intends to retain a 60% majority stake in the project that is slated to begin construction of three additional berths to bolster handling capacity by end 2008.

Evergreen is conducting the negotiations through their Italian branch as Taiwanese law forbids local firms to invest in Chinese port ventures. Taiwan is keen to avoid economic dependence on its much larger neighbour.  [23/05/07]