On December 29, 2015, Hebei Port Group (HPG for short) signed cooperation framework agreement with Tianjin Port Group in Tianjin to jointly support the development of Bohai Jin-Ji Port Investment and Development Company Limited (Bohai Port Investment for short), which has officially purchased the No.3 and No.4 berths of the multi-purpose terminal in HPG’s Huanghua Port, and has undertaken the Phase I project of the general terminal of new construction materials industrial base in Nanshaling Port Area of Tianjin Port, marking the concrete progress that has been made in joint development among ports in Hebei and Tianjin.
To promote the coordinated development in the Beijing-Tianjin-Hebei region and enjoy complementary advantages of ports in the region, the Qinhuangdao Port Co., Ltd., a subordinate of HPG, and Tianjin Port Group Co., Ltd. will contribute 50% of the total registered capital of Bohai Port Investment respectively. Established in Tianjin Dongjiang Bonded Port Area on August 8, 2014, the company has a total registered capital of RMB 2 billion. It mainly engages in the investment and development of port projects in the regions of Tianjin and Hebei, with the business scope of port projects investment operation and management.
Xing Luzhen, the chairman of HPG, said that the signing of this agreement would help the two sides deepen friendship and generate win-win profit. The port resources in this region would be optimized and the port services would be expanded to the inland areas, opening a new era of construction and development in this region. HPG would seize this opportunity to exploit its advantages and cooperate sincerely with Tianjin Port Group, promoting the coordinated development in the Beijing-Tianjin-Hebei region and making greater contributions to the national economy.