[19 December 2005 – Hong Kong] – Hutchison Port Holdings (HPH) has entered into a joint-venture agreement today with Shanghai International Port (Group) Company Limited (SIPG), APM Terminals, COSCO and China Shipping Group to jointly develop the Yangshan Deep-water Port Phase II Project (Yangshan Phase II). The contract signing ceremony was held at the New Jin Jiang Hotel in Shanghai.
Speaking at the ceremony, Mr. Li Ka-shing, Chairman of Hutchison Whampoa Limited, said, “The Yangshan Deep-water Port affirms Shanghai’s status as a major international shipping centre and deep-water container transport hub, and will accelerate growth in the Yangtze River Delta.” He continued, “As the first foreign capital firm to invest in and operate container terminals in Shanghai in the early 1990s, the Hutchison Whampoa Group will continue to work with the Shanghai Municipal Government to contribute to Shanghai’s future success.”
Yangshan Phase II will have a total area of 64 hectares with a quay length of 1,400 metres and a depth alongside of exceeding 15 metres. There will be four deep-water berths capable of handling the latest generation of mega-vessels.
The joint-venture contract signing ceremony was also attended by Han Zheng, Mayor of Shanghai, Lu Haihu, Chairman of the Board, Shanghai International Port (Group) Company Limited, Canning Fok, Group Managing Director of Hutchison Whampoa Limited, James Tsien, Group Executive Director of Hutchison Port Holdings, and officials from the Shanghai Municipal Government.