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American Shipper

Hutchison, Shanghai port in box terminal joint venture

Hutchison, Shanghai port in box terminal joint venture

   Hong Kong-based Hutchison Port Holdings and Shanghai International Port Group have formed a joint venture to invest in a container terminal at Shanghai Waigaoqiao Phase V.

   The 50-50 joint venture, Shanghai Mingdong Container Terminals Ltd., has a tenure of 50 years.

   The Shanghai Waigaoqiao Phase V will occupy a total area of 1.60 million square meters and feature 4 deepwater berths as well as two feeder berths, with a draft of 12.8 meters.

   The terminal project “will come on stream as soon as all civil works are completed and when it receives all approvals from the relevant government departments,” Hutchison said.