CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Joint Venture Agreed For Expansion Of China's Yangpu Port

Joint Venture Agreed For Expansion Of China's Yangpu Port

by Mary Swire, Tax-News.com, Hong Kong

24 July 2012


The operators of Singapore's Yurong Port have agreed a joint venture with China's State Development and Investment Company (SDIC).

The agreement will see the Singaporean entity manage and expand the capacity of Yangpu Port, situated in the north of the Chinese island Hainan, in the first economic zone approved by the Chinese government for lease to foreign investors.

SDIC will retain a majority stake in the venture, of 51%, to be known as SDIC Jurong Yangpu Port Co, which has been approved to operate under concessional arrangements for a period of fifty years, and becomes the only public operator in the Yangpu economic zone.

The agreement seeks to establish Hainan's Yangpu Port as a shipping and logistics hub, building upon Hainan's already prominent position in the Chinese shipping industry. The development of Yangpu Port, which handled 8.7 million tons of general and bulk cargo in 2011, is a part of government plans to substantially expand the economic zone's shipping capacity to 220 million tons by 2020.

After two years of negotiation and planning, this is the second Chinese project approved for Singapore's Jurong Port following the conclusion of talks to invest in Rizhao Port in China's Shandong province in 2011.

TAGS: marine

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »