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SIPG invests in another Yangtze port

SIPG invests in another Yangtze port

Shanghai: Further securing its hinterland Shanghai International Port (Group) Co., Ltd. (SIPG), a port service provider in east China, has recently signed a letter of intent upon the regrouping of Jiujiang Port Group Co., Ltd. with the State-owned Assets Supervision and Administration Commission of Jiangxi Province's Jiujiang city.

It will be SIPG's third capital investment into a port company along the Yangtze Rive after it cooperated with the Port of Chongqing and the Port of Wuhan.

Jiujiang port, 856 kilometers east of the nation's economic engine Shanghai and 269 kilometers west of Wuhan, is one of the five national hub ports along the Yangtze River and one of 13 coal transfer ports in China. Meanwhile, it is also the exclusive water transportation route in the southeastern Chinese inland province of Jiangxi.

Ports along the Yangtze River handled 780 million tons of goods, 3.8 million teu last year, up 19.4 percent and 40.9 percent year on year, according to statistics by the Changjiang River Administration of Navigational Affairs, under the wing of the China's Ministry of Communications.  [19/06/07]