China’s logistics service provider, Zhonggu Logistics, is planning to purchase a stake in and increase capital investment into Tianjin port.
The total investment amount will be around CNY700m ($109.9m) is aimed at strengthening the company’s container business.
“The deal is expected to accelerate the company’s inland trading container business development and jointly enhance container business with Tianjin port, improve comprehensive port and shipping service ability and logistics supply chain,” said Zhonggu Logistics.
The joint venture terminal assets under Tianjin port will also help Zhonggu Logistics to expand cargo transportation network in north China.
Source: Seatrade Maritime News