China Merchants Port Group (SHE:001872, SHE:201872) signed a deal to transfer land in Zhanjiang Xiamen Port Industrial Park, China, to a joint venture, according to a Shenzhen Stock Exchange filing on Wednesday.
The joint venture, Zhanjiang Sinotrans Chemical International Logistics, was established through the company's subsidiary, Zhanjiang Port Group, in partnership with Sinotrans Chemical International Logistics and Sinotrans South China.
Zhanjiang Port sold the land, which has an area of 79,869.16 square meters, to Zhanjiang Sinotrans Chemical to be used for the construction of its planned logistics hub, the Chinese port operator said.
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