Hutchison, Dalian Ports Corp. establish ore terminal joint-venture

Hutchison, Dalian Ports Corp. establish ore terminal joint-venture    Hong Kong-based port operator Hutchison Port Holdings (HPH) and Dalian Ports Corp. Ltd. have established an equal joint-venture company, Dalian Ore Terminals Ltd., to invest and develop an ore terminal at the port of Dalian.
   The joint venture has a tenure of 50 years and a total investment of RMB2.2 billion ($272 million), HPH said.
   The terminal is HPH’s first dedicated non-containerized terminal operation in China. “The investment reflects the importance of Dalian’s strategic location in North China. We are committed to working with the relevant parties to develop Dalian Port into a maritime hub in Northeast Asia,” said John Meredith, group managing director of HPH.
   The terminal currently has two berths with a total length of 886 meters (2,906.8 feet) and a depth of 23 meters (75.5 feet).