Shanghai has awarded the second phase of its multi-billion dollar container port project to a consortium with members including Hutchison Whampoa, COSCO Pacific and the port unit of Danish A.P. Moeller-Maersk, APM Terminals, a newspaper said on Monday.
The remaining two partners are Shanghai International Port Group (SIPG), which is 30 percent owned by China Merchants Holdings (International), and the joint venture between Wharf (Holdings) Modern Terminals and the parent of China Shipping Container Lines, China Shipping Group, the South China Morning Post said.
Although the equity split in the four-berth Yangshan port phase II, which may have capital costs of about US $830 million, had not been finalised, it was agreed that it would be managed by SIPG, said the paper quoting executives close to the deal.
Officials at the companies were not immediately available for comment.
SIPG and its Shanghai-listed affiliate Shanghai Container Co Ltd.