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reduced.
Cathay
service to link
in Guangdong.
Pacific Airways would make use of this
up with its information processing centre The number of users of private lease
Guangdong could rise to
circuits between Hong Kong and
about 200 by the end of 1993.
33.
During the fourth quarter of 1992, Hong Kong investors continued to show a keen interest in developing
infrastructural facilities in China. Notable examples are
as follows:
Hong Kong International Terminals (HIT) signed an agreement with the Shanghai Port Authority for a 50% stake in a joint venture, Shanghai Container Terminals (SCT), for the operation, expansion and modernisation of the three existing container terminals at the Shanghai Port. The expansion
programme, which was estimated to cost Rmb 5.6
billion, was aimed at increasing the overall
terminal capacity from the present 0.85 million
TEUS to 1.6 million TEUS per year by the end of
1995.
The agreement took effect on January 1,
1993 and the development stages are now well
underway.
HIT was also granted certain preferential development rights for Shanghai's
future container terminal in the Pudong
Economic Area.
New
A similar agreement was entered into by Hutchison Whampoa with Zhuhai Jiuzhou Port Enterprise
(Holdings) Ltd. for a 50% stake in a joint venture, Zhuhai International Cargo Company, for the operation and expansion of container terminals at the Jiuzhou Port. The programme was initially
aimed at expanding the port capacity from the
present
million TEUS to 22 million TEUS per
year.
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