China Merchants signs wharf deal with Sri Lanka

China Merchants Holdings (International), China's second-largest port operator, announced on September 17th that its bidding alliance with Aitken Spence PLC has signed an unbinding agreement with the Sri Lankan government to build and operate a container wharf in Colombo in alliance with Aitken Spence.

The general manager of China Merchants Holdings International said the company plans to invest US$500 million into the wharf project in return for a 55 percent stake.

The alliance will build a container wharf near Colombo Port with a designed annual throughput of 2.4 million TEUs. It is expected to start operating in early 2013.
(Source:www.cargonewsasia.com)