Independent journal on economy and transport policy
08:08 GMT+1
This page has been automatically translated by Original news
PYI Corporation sells 50.1% of the port of Yangkou for 229 million dollars
The quota passes to the Rudong County Ritai Infrastructure Development and Investment Co., than already it possesses 5% of the capital
March 16, 2011
PYI Corporation, company of Hong Kong specialized in the investments and the harbour and logistic infrastructure management dedicated to the bulk traffic in the region of the Yangtze river, have decided to yield 50.1% of the capital stock of the Yangkou Port Co. (Jiangsu YangKou Port Development and Investment Co. Ltd.), society that manages the port of Yangkou, to the Rudong County Ritai Infrastructure Development and Investment Co. Ltd. (Ritai) for 1.507 million yuan (229 million dollars).
The sale is approved of by the shareholders of PYI for 99.44% of the total of the ballots. With the cession the quota PYI in Yangkou Port will come down from 60% to 9.9%. PYI is shareholder of the Yangkou Port through the society integrally controlled Glory Well Ltd.
The Ritai, than already shareholder of Yangkou Port with 5% of the capital, is participated with 75% from the government of the district of Rudong, in the Chinese province of Jiangsu. The other shareholders of the Ritai are with 10% the Nantong Be Assets Investment Holdings Ltd., society of property of the provincial government of Nantong, and with 25% the Rudong County Dongtai Community Development and Investment Co. Ltd. (Dongtai), society that is under responsibility of the Chinese government.
The port of Yangkou, that it is situated in the Bay of Liaodong to the river mouth delloYangtze, is constructed and is of property of the PYI Corporation that has inaugurated it in October 2008.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
PYI Corporation, company of Hong Kong specialized in the investments and the harbour and logistic infrastructure management dedicated to the bulk traffic in the region of the Yangtze river, have decided to yield 50.1% of the capital stock of the Yangkou Port Co. (Jiangsu YangKou Port Development and Investment Co. Ltd.), society that manages the port of Yangkou, to the Rudong County Ritai Infrastructure Development and Investment Co. Ltd. (Ritai) for 1.507 million yuan (229 million dollars).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
