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MTL to embark on five year spending spree.
(From Lloyds List)
WHARF-controlled Modern Terminals has put together plans that will see the operator spending at least Yuan11bn (US$1.36bn) on expansion in China over the next five years, writes Mike Grinter in Hong Kong .
If Hong Kong's second-largest terminal operator gets its way, the investment will see its China business triple.
Its first priority is the Da Chan Bay Container Terminals in Shenzhen, which is being jointly developed by MTL and the Shenzhen Municipal Authority.
The news follows swiftly on the back of an announcement in October that the operator had signed a five-year HK$6bn (US$769m) revolving credit facility.
Phase I of the project received approval in early 2005, and the first five berths are due to start operations ...
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