Independent journal on economy and transport policy
15:03 GMT+1
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the Chinese Guangxi Beibu Gulf International Port Group Co. it obtains the 40% of the port malaysian of Kuantan
Transaction with IJM Corporation of the total value of approximately 101 million dollars
September 10, 2013
the group malaysian IJM Corporation, through a society integrally controlled, has yielded for 317,7 million ringgit (96 million dollars) the 38% of the share capital of Kuantan Port Consortium (KPC), the society that manages the port malaysian of Kuantan until 2027, to the Beibu Holding Gulf (Hong Kong) Co. (BGH), society integrally controlled from the group public Chinese Guangxi Beibu Gulf International Port Group Co. that work the Chinese ports of Fangchenggan, Qinzhou, Tieshan and Beihai. Moreover IJM has announced that BGH has acquired ulterior a 2% of the share capital of KPC from the Essmarine Terminal, society integrally controlled always from group IJM, for 16,7 million ringgit. The remaining 60% of KPC remain in the hands of IJM.
the agreement for the cession of the total 40% of the share capital of Kuantan Port Consortium previews among other things that KPC obtains the extension 60-year-old of the validity of the contract of concession in the within of which it manages the port of Kuantan, that it has had beginning from 22 November 1997, date of the agreement of privatization which signed from the Kuantan Port Authority and KPC, and that obtains also the contract of concession for a new harbour terminal in deep waters to Kuantan in management for 60 years with beginning from the 22 November 1997, terminal that will allow to double the annual ability to traffic goods of the port elevating give it 26 million to 56 million tons.
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Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
the group malaysian IJM Corporation, through a society integrally controlled, has yielded for 317,7 million ringgit (96 million dollars) the 38% of the share capital of Kuantan Port Consortium (KPC), the society that manages the port malaysian of Kuantan until 2027, to the Beibu Holding Gulf (Hong Kong) Co. (BGH), society integrally controlled from the group public Chinese Guangxi Beibu Gulf International Port Group Co. that work the Chinese ports of Fangchenggan, Qinzhou, Tieshan and Beihai. Moreover IJM has announced that BGH has acquired ulterior a 2% of the share capital of KPC from the Essmarine Terminal, society integrally controlled always from group IJM, for 16,7 million ringgit. The remaining 60% of KPC remain in the hands of IJM.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
