Dalian Port Group acquire Jinzhou Port, says city major

JINZHOU Port is to be bought by the Dalian (PDA) Co Ltd since negotiations began last year of a 18.9 per cent share at CNY1.91 billion (US$278 million) cost but current value is as yet undisclosed said the major of the north-eastern city of Liaoning Province.

In a Reuters report the major, Xia Deren said that control of Jinzhou Port is expected this year following damaging results in volume throughput at the Dalian Port where February dropped 10 per cent. Mr Deren is hopeful of the port's recovery in the second half of 2009.

It is the worst month for the port in history, Mr Xia added, compared to last year's January results which showed a healthy increase of 28.3 per cent year on year to 5.452 million TEU.

Source: Schednet