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Tianjin port to see 3bn yuan investement

Tianjin port to see 3bn yuan investement

Hong Kong: China Merchants Holdings has announced that it is to invest 3 billion yuan ($387m) in a container terminal project at Tianjin. "We plan to build four container berths in the Tianjin port, each capable of accommodating 600,000 to 700,000teu," CMH cm Fu Yuning told reporters at the company general meeting (pictured), adding that construction is slated to begin in 2010.

The company also received shareholders' approval Wednesday to restructure and consolidate interests in port operating companies in Shekou, in the western Shenzhen area. CMH is now to spend $405m in conjunction with Modern Terminals to buy a 40% stake in phase one and 39% stake in phase two of the Shekou container terminal from current stakeholders Swire Pacific and Dubai Ports International.  [20/02/07]

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