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Modern Terminals to take majority stake in Dachan Bay.
(From The Standard)
Byline: Keith Wallis
Modern Terminals will take a majority shareholding in the development of Dachan Bay container port in western Shenzhen, managing director Erik Christensen confirmed yesterday.
He said the company would ``definitely have a majority'' stake in the complex.
The first phase is estimated to cost seven billion yuan (HK$6.6 billion). Christensen said the Shenzhen authorities ``are not fussed about'' Modern Terminals being the dominant partner because recent changes in ownership laws allowed foreign operators to take a shareholding of more than 50 per cent. Christensen said Dachan Bay terminal could …
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