YICT gets loan for expansion
South China terminal operator Yantian International Container Terminals, today signed a HK$6.8 billion ($873 million) five-year loan facility with a consortium of banks to finance its ongoing expansion project.
The project, with a total investment of more than RMB10 billion ($1.27 billion), includes six deepwater container berths, capable of accommodating the largest container vessels. The first two berths started operations Sept. 1. The remaining four berths are due to be completed by the end of 2009 with the entire project finished the year after.
YICT is a member of Hong Kong-based Hutchison Port Holdings, the world’s largest container terminal group.