Dalian to sell stakes in two container berths to PSA and APM Terminals

DALIAN Port Co Ltd has announced it will sell stakes in two container berths for CYN1.25 billion (US$167 million) to a consortium led by Singapore's PSA International and AP Moeller-Maersk's APM Terminals, reported Reuters.

The company will profit of CYN221 million from the deal and the proceeds will be used to repay debt and fund other port development projects.

Dalian Port will sell two container berths and relevant facilities to Dalian Port Container Terminal Co Ltd, 25 per cent-owned by PSA, 20 per cent by APM Terminals and 20 per cent by Cosco Pacific. The remaining 35 per cent is held by Dalian Port Co Ltd through a subsidiary.