Jurong Port and SDIC Yangpu Port Co Ltd have set up a joint venture company to manage and operate Yangpu Port, one of the busiest deep-water ports on Hainan island in Southern China, Jurong Port announced on Friday.
Both parties had signed the agreement on Thursday. The new venture is named SDIC Jurong Yangpu Port Co Ltd.
Said Jurong Port\'s CEO Matthew Chan, \"Yangpu joint venture port is our first major port venture in fast growing Southern China. In addition to Asean, the port will tap on the rapid development of Hainan which is the largest special economic zone in China.\"
Yangpu Port is the main port serving the Yangpu Economic Development Zone, a rapidly developing industrial zone in north-west Hainan. In 2011, the port handled about 8.7 million tons of general and bulk cargo, including 310,000 TEUs of container cargo.
Both parties had signed the agreement on Thursday. The new venture is named SDIC Jurong Yangpu Port Co Ltd.
Said Jurong Port\'s CEO Matthew Chan, \"Yangpu joint venture port is our first major port venture in fast growing Southern China. In addition to Asean, the port will tap on the rapid development of Hainan which is the largest special economic zone in China.\"
Yangpu Port is the main port serving the Yangpu Economic Development Zone, a rapidly developing industrial zone in north-west Hainan. In 2011, the port handled about 8.7 million tons of general and bulk cargo, including 310,000 TEUs of container cargo.