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Contact Person : Lily Chan / Anthony Tam
Telephone : (852) 2619 7557
Fax : (852) 2612 0083
E-mail : gca@hph.com.hk
[October 18, 2005 - Hong Kong] Dalian Ports Corporation Limited and the Hutchison Port Holdings (HPH) Group have entered into a joint-venture agreement to invest and develop an ore terminal in Dalian.
Dalian Ore Terminals Limited, the newly-formed company, has an equal shareholding of 50:50 between Dalian Ports Corporation Limited and the HPH Group. Dalian Ore Terminals Limited has a tenure of 50 years and a total investment of RMB 2.2 billion.
The joint-venture contract was signed by Mr. Sun Hong, General Manager of Dalian Ports Corporation Limited and Mr. James Tsien, Managing Director of Hutchison Ports China.
Mr. Yuan Fuxiu, Chairman of Dalian Ports Corporation Limited, said, "We must operate ports with a global perspective. We are excited about the strategic partnership with HPH, the world's leading port investor and developer, bringing best managerial practices and technological expertise to this new joint-venture. By leveraging both companies' strengths, we are confident that Dalian Ore Terminals will contribute to the transformation of Dalian Port into a major maritime centre in the region."
Commenting on the cooperation, Mr. John Meredith, Group Managing Director of HPH, said, "We are pleased to team up with Dalian Ports Corporation Limited to spearhead the development of Dalian Ore Terminals. It marks HPH's first dedicated non-containerised terminal operation in the PRC, expanding the Group's network to North China and delivering value-added services to our customers. The investment reflects the importance of Dalian's strategic location in North China. We are committed to working with the relevant parties to develop Dalian Port into a maritime hub in Northeast Asia."
Dalian Ore Terminals will come on stream as soon as it receives approvals from the relevant government authorities.
Dalian Ore Terminals Limited is built with the following facilities:
| Total Area: | 79 hectares |
| Vessel Berths: | 2 |
| Total Berth Length: | 886 metres |
| Depth Alongside: | 23 metres |
| Ship Unloader: | 3 |
| Stacker Reclaimer: | 2 |
| Conveyor Belt: | 1 |
| Rail Loading Station: | 1 |
Dalian Ore Terminals - Joint-venture contract signing ceremony.
Front Row (left to right): Mr. James Tsien, Managing Director of Hutchison Ports China and Mr. Sun Hong, General Manager of Dalian Ports Corporation Limited.
Back Row (left to right): Mr. Henry Wah, Director of Hutchison Ports China, Mr. Simon To, Managing Director of Hutchison Whampoa (China), Mr. Yuan Fuxiu, Chairman of Dalian Ports Corporation Limited, Mr. John Meredith, Group Managing Director of Hutchison Port Holdings, Madame Sun Chunlan, Party Secretary of Dalian, and Mr. Xia Deren, Mayor of Dalian.
Background Information:
Hutchison Ports Holdings
Hutchison Ports Holdings (HPH), a wholly-owned subsidiary of the multinational conglomerate Hutchison Whampoa Limited (HWL), is the world's leading port investor, developer and operator with interests in 19 countries throughout Asia, the Middle East, Africa, Europe and the Americas.
Today, HPH operates a total of 236 berths in 40 ports together with a number of transportation related service companies. With industry recognized core competence in the effective and efficient management and operation of container ports, the HPH Group handled 47.8 million TEU in 2004.
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