As anticipated, HPH has been granted a reduced equity stake in the long-delayed Phase III of Yantian International Container Terminals (YICT) in Shenzhen. An HPH spokesman said the company's stake would be less than 45 per cent, down from the 50.5 per cent it was allowed in Phases I and II of the facility.
The reduced stake is further evidence of how the Hong Kong-based global port operator is being restricted in its China expansion plans. It follows a rule change in March by the Ministry of Communications, aimed at protecting domestic port operators, that banned foreign companies from taking majority stakes in future port developments....
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Approx 200 words from WorldCargo News, August 2001,
page 6.
