3 mainland shippers invest in key container port in Taiwan
Source: Xinhua |
January 8, 2013, Tuesday
|
Print Edition
Print Edition
THREE shipping heavyweights from the Chinese mainland have agreed to invest US$135 million in a key port in Taiwan, a senior official said yesterday.
The China Ocean Shipping (Group) Co, China Shipping (Group) Co and China Merchants Group jointly purchased 30 percent equity in the Kao Ming Container Terminal Corp of Kaohsiung Port, Taiwan's largest port.
Kaohsiung Port is controlled by the Yang Ming Line, Taiwan's second biggest container shipping line.
The four companies held a ceremony on Friday, marking the start of the joint management of the terminal, Li Shenglin, honorary director of the Cross-Strait Shipping Exchange Association and the mainland's former minister of transport, told Xinhua news agency.
The investment marks the largest investment in Taiwan by Chinese mainland companies as well as the first time that any Chinese mainland companies have invested in infrastructure in Taiwan.
Li said the alignment is of crucial significance in deepening cross-Strait shipping and economic ties and promoting bilateral investment.
It will also enhance shipping firms' competitiveness and cement the port's position as a transport hub, he added.
Four 100,000-ton-container-berths are planned for the Kao Ming Container Terminal. On completion, the annual cargo capacity could reach 2.8 million TEUs (twenty-foot equivalent units). The plan has been approved relevant authorities.
Shipping and logistics between the two sides have boomed.
The China Ocean Shipping (Group) Co, China Shipping (Group) Co and China Merchants Group jointly purchased 30 percent equity in the Kao Ming Container Terminal Corp of Kaohsiung Port, Taiwan's largest port.
Kaohsiung Port is controlled by the Yang Ming Line, Taiwan's second biggest container shipping line.
The four companies held a ceremony on Friday, marking the start of the joint management of the terminal, Li Shenglin, honorary director of the Cross-Strait Shipping Exchange Association and the mainland's former minister of transport, told Xinhua news agency.
The investment marks the largest investment in Taiwan by Chinese mainland companies as well as the first time that any Chinese mainland companies have invested in infrastructure in Taiwan.
Li said the alignment is of crucial significance in deepening cross-Strait shipping and economic ties and promoting bilateral investment.
It will also enhance shipping firms' competitiveness and cement the port's position as a transport hub, he added.
Four 100,000-ton-container-berths are planned for the Kao Ming Container Terminal. On completion, the annual cargo capacity could reach 2.8 million TEUs (twenty-foot equivalent units). The plan has been approved relevant authorities.
Shipping and logistics between the two sides have boomed.
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