[Photo: COSCO SHIPPING]
According to the official website of State Administration for Market Regulation, the new joint venture case between Hutchison Ports Europe and operators such as COSCO SHIPPING Ports has been publicly announced on the official website starting from April 23.This means that a joint venture will be established by Hutchison Ports Europe, COSCO SHIPPING Ports and CMA Terminals.
The joint venture will develop and operate a container terminal in Egypt. After the completion of this transaction, Hutchison Ports Europe, COSCO SHIPPING Ports and CMA Terminals will respectively hold 50%, 25% and 25% of the equity of the joint venture and jointly control the joint venture.
By Xinde Marine News Sarah Yu
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.