Shanghai: Tianjin Port (Group) Co said on Tuesday it planned to set up a roro terminal Japan's Nippon Yusen Kaisha and Sweden's Wallenius Wilhelmsen to be capitalized at 264m yuan.
Tianjin Port will hold 51 percent in the venture, named TPG Global RO-RO Terminal Co., with NYK holding 34 percent and Wallenius Wilhelmsen Terminals North AB taking 15 percent, the Chinese firm said in a statement.
The venture will build a new terminal, at an estimated cost of 756 million yuan, in the northern port city of Tianjin, capable of handling 500,000 vehicles per year, it said.
The port's existing terminal handled 146,000 vehicles in its first year of operation in 2006. The volume is expected to rise to 1 million units by 2010 and to 1.2 million units by 2015, it added. NYK is attempting to build a pan-China roro network with operations in Guangzhou and Dalian already up and running. [17/07/07]
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