Container lessor and port operator Cosco Pacific is to take a minority stake in a new container terminal joint venture in the northern Chinese port of Dalian through Cosco Pacific (China) Investments. The latter will pay Yuan37.52 mill (US$4.5 mill) for an 8 per cent stake in Dalian Port Container (DPC).
The joint venture will engage in container terminal operations, container storage, freight forwarding and other related businesses. Cosco Pacific's parent, China Ocean Shipping Co (Cosco), will hold 0.5 per cent of DPC through subsidiary China Dalian Ocean Shipping Agency, the Port of Dalian Authority will own 89.5 per cent, while Shanghai Port Container and PG Logistics will each hold 1 per cent....
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Approx 181 words from WorldCargo News, January 2002,
page 11.
