Tianjin, Hebei form joint port venture
By Bao Wanxian, Li Xiang in Tianjin and Zhong Nan in Beijing | China Daily | Updated: 2014-08-21 07:12
A joint venture port corporation was established on Tuesday by Tianjin Port Group Co Ltd and Hebei Port Group Co Ltd to combine the maritime transport resources of northern China and support plans for the integrated development of Beijing, Tianjin and Hebei province.
About 2 billion yuan ($325 million) will be invested by the Bohai Jinji Port Investment and Development Co Ltd to develop port facilities in Tianjin and Hebei on the Bohai Sea, said Li Zengjun, chairman of the company.
"Each partner holds a 50 percent stake, which will promote an equal relationship between the Tianjin and Hebei ports," Li said.
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