Hebei Port Group and Tianjin Port Group have signed a framework agreement to purchase and operate port cargo facilities in each of their respective port areas.
The Hebei Port Group and Tianjin Port Group have agreed to work together to jointly develop port terminal facilities in their respective ports.
The two Chinese port groups signed a framework agreement to purchase and operate the multi-purpose terminal at Huanghua Port in Hebei and a bulk terminal in the Gaoshaling at Tianjin Port.
The agreement will be carried out by Bohai Tianjin-Hebei Port Investment and Development Company, a joint venture between the two companies established in 2014.
Tianjin Port has been under intense scrutiny after massive explosions at a warehouse for dangerous materials owned by Rui Hai Company in the area of the Tianjin Port International Logistics Center of the Binhai New Area rocked the port in August.
The devastating blasts reportedly killed at least 114 people, damaged buildings within a 1.5-mile radius, and caused severe congestion for hazardous materials transporters as well as container, bulk and oil carriers.
Chinese port groups partner on terminal development
