1991 01
1991 Q2
15
CITIC (HK),
together with its American and Hong
Kong partners, won a 15-year chemical processing
contract awarded by the Hong Kong Government.
The venture was expected to generate a total income of HK$3.3 billion (at 1990 prices) during
its life-span. CITIC had a stake of 20%.
China's
China Ocean Shipping Co. (COSCO) of
Ministry of Communications entered into a 50:50
joint-venture with the Hong Kong International
Terminals Ltd. (HIT) to develop and operate two
of the four berths of Kwai Chung Container
Terminal 8 (CT8). Separately, China Merchants
Holdings Co. Ltd. was negotiating with the Modern
for the development of the
Terminals Ltd. (MTL)
other two
berths of
CT8.
granted by private treaty
The site for CT8 was
to a consortium with
equal stakes from HIT and MTL. The total cost of
development of CT8, including the land premium,
amounted to HK$7 billion.
Guangdong
(HK) Tours
Co.
residential-cum-commercial
Ltd. bought a
building at Tsim Sha
Tsui for HK$63 million.
Guangdong (HK) Tours Co. Ltd. bought the Ramada
Inn at a price of HK$310 million.
An un-named
PRC-interest company bought from the
Enterprises
(Holdings)
Ltd.
a
Guangdong
commercial building, which was still under
construction, at a price of HK$260 million.
Guangdong Enterprises (Holdings) Ltd. bought one
floor of the New East Ocean Commercial Centre for
around HK$100 million, and an old building for
another HK$29 million.