Dubai Ports World to build container terminal in Tianjin
(People's Daily Online)
Updated: 2006-06-16 10:53
Dubai Ports World (DPW), the world's third largest port operator, announced
on June 13 of local time that it will invest US $500 million in Tianjin
Municipality to build container terminal to expand its investment in China.
DPW have six ports in China, with a total handling capacity reaching 11
million TEUs (20-foot equivalent container units)
On June 13 of local time, Huang Xingguo, vice mayor of Tianjin, signed a
letter of intent in Dubai to establish the DPW Tianjin Holdings Limited, a joint
venture by DPW and Tianjin Port Group (TPG), with each party holding 50 percent
of shares.
For DPW, China is a key market due to it huge throughput.
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