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The first 'Belt and Road' port investment project

by:VIPUTRANS     2020-08-02

On June 29, China Merchants Port Holdings Co., Ltd. (referred to as 'China Merchants Port') and Fujian Communications and Transportation Group Co., Ltd. (referred to as 'Fujian Communications Group'), Fujian Communications Haisi Investment Management Co., Ltd. (referred to as 'Fujian Communications 'Haisi') held a cloud signing ceremony for Sri Lanka's Hambantota Port equity cooperation project. Bai Jingtao, Managing Director of China Merchants Port, Xiong Xianliang, General Manager of Strategic Development Department of China Merchants Group, Li Xinghu, Chairman of Fujian Communications Group, and Wang Dunxing, Director of Fujian Communications Haisi, signed the contract on behalf of their affiliates. Lu Yongxin, Deputy General Manager of China Merchants Port, presided over the signing ceremony.

Deng Renjie, Deputy General Manager of China Merchants Group and Chairman of China Merchants Port Board of Directors, Li Zhonghan, Director of Overseas Department/International Cooperation Department of China Merchants Group, Zhan Chenhui, Deputy Director of Fujian Development and Reform Commission, Huang Naen, Deputy Director of Fujian Provincial Department of Commerce, Second Inspector of Fujian SASAC Wang Qiang, Guo Guohua, Executive Vice President of Fujian Enterprise Federation, Chen Kexiang, General Manager of Fujian Communications Group, Zheng Shaoping, Deputy General Manager and Executive Director of China Merchants Port, and leaders of all parties witnessed the signing. Lin Yuhao, Vice President of Fujian Branch of the Export-Import Bank of China, Lin Dan, Vice President of Fuzhou Branch of Industrial Bank, and representatives of the three parties attended the signing ceremony.

The project is invested by Fujian Communications Haisi, which is controlled by Fujian Communications Group, as a strategic investor, and participates in Sri Lanka Hambantota Port International Port Group Company, which is controlled by China Merchants Port, and develops with Hambantota Port by leveraging its respective domestic and foreign resource advantages. The synergy effect promotes the long-term sustainable development of the Hambantota Port project.

Deng Renjie said in his speech: 'China Merchants Group and Fujian Communications Group have cooperated for many years. This cooperation is not only a model for both parties to integrate resources, complement each other's advantages, and deepen cooperation; it will also inject the next step of the construction of the Hambantota Port South Asia Shipping Center. New impetus. It is hoped that both parties will give full play to their respective advantages, grasp the opportunities of digital transformation of the port and shipping industry and domestic industrial transfer, explore the synergy between the two parties’ domestic and foreign port businesses, and actively introduce competitive industries to the Hambantota Port Industrial Park for development and further expand cooperation. Breadth and depth.'

Li Xinghu emphasized in his speech: 'Fujian Transportation Group will use this cooperation as an opportunity to deepen the cooperation between Hambantota Port and Fujian ports and shipping companies, expand the business points of 'Silk Road Shipping' and enhance the brand influence of 'Silk Road Shipping'. At the same time, Fujian Communications Group will also strive to attract and drive Fujian enterprises to participate in the construction of Hambantota Port, and strive to build Hambantota Port as a base for Fujian enterprises to enter South Asia and overseas markets.'

Wang Qiang's message The two parties adhere to the principles of sincere cooperation, mutual benefit and win-win, and work hand in hand, give full play to their advantages, accelerate the construction of Hambantota Port, and build Hambantota Port into a port construction along the 'Belt and Road' and a port industrial park Model project.

Since participating in the cooperation with China Merchants Zhangzhou Development Zone, Fujian Communications Group has had a long-term good cooperative relationship with China Merchants Group for many years. The project was signed during the visit to Hong Kong by Fujian Provincial Party Committee Secretary Yu Weiguo in October 2018. After nearly two years of hard work by both parties, with the help of the Provincial State-owned Assets Supervision and Administration Commission, the Development and Reform Commission, the Department of Communications, and the Department of Commerce, the impact of the epidemic was overcome. , And finally complete various negotiation and approval procedures and implement them on schedule. This is also the first port transportation infrastructure project along the 'Belt and Road' that Fujian enterprises have invested in. It is an important step in the development of Fujian Communications Group's 'going global' and will further expand the influence of the 'Silk Road Shipping' brand. Fujian Communications Group will work with China Merchants Port to fully and deeply participate in the development, construction and industrial development of Hambantota Port, and contribute to the construction of the “Belt and Road”.

About China Merchants Port

China Merchants Port is an important subsidiary of China Merchants Group. It is now the world's leading port development, investment and operator. It has established a relatively complete port network group in major coastal ports in China, and has successfully deployed South Asia, Africa, Europe and the Mediterranean. South America and other regions. China Merchants Port has deployed overseas ports since 2008 and has been implementing the “One Belt One Road” national initiative in recent years, accelerating the pace of internationalization. As of March 2020, it has invested in 41 ports in 25 countries and regions.

About Hambantota Port

Hambantota Port is strategically located, about 10 nautical miles away from the main sea routes, connecting the Asia-Pacific region with Europe and North America. The port is an all-round deep-water port with 10 berths and a wharf length of 3,487 meters; the berths specialize in handling containers, bulk cargo, general cargo, ro-ro cargo, liquid bulk cargo and ship refueling.
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