Signing ceremony for joint venture Tianjin terminal development
The Tianjin Port (Group) Co., APM Terminals and COSCO Pacific Ltd. Tuesday signed a joint venture contract for a new company, Tianjin Port Euroasia International Container Terminal Co., Ltd., that will develop and operate three berths at the Chinese port of Tianjin.
The joint project, located in Tianjin’s North Port, will have a capacity of 1.8 million TEUs and a total quay length of 1,100 meters and water depth of 15.5 meters alongside. The total investment in the project is about RMB3.6 billion ($449 million).
Tianjin Port (Group) Co. will hold a 40 percent share of the joint venture company with partners APM and COSCO Pacific each having a 30 percent ownership. The signing ceremony was held at A.P. Moller-Maersk group-owned APM’s headquarters in the Hague, Netherlands.