Executive vice mayor of the city of Tianjin, China, recently stated that he hoped for greater cooperation with UAE's DP World Company that had recently signed an agreement for the man-made Island Phase 2 Container Terminal project in the city.
Speaking at the signing ceremony at DP World's Jebel Ali headquarters, Mr. Huang Xing Gua said, "We want to have further discussions with DP World," and that he looked forward to "close co-operation and sharing of experiences," according to Khaleej Times.
Xing Gua described the Port of Tianjin as a "large hinterland," saying that he expected the terminal to handle 6 million TEUs in 2006, up from 4.8 million TEUs in 2005.
Responding to talk of greater potential cooperation in the future, vice-chairman of DP World and Group CEO, Port & Free Zone World, Jamal Majid bin Thaniah said: "China is a key market for DP World and its customers, and this agreement underlines our commitment to investment in the country. It further strengthens the already thriving trade links between Dubai and China and we look forward to enhancing our long-term relationship."
Meanwhile, DP World announced last week the commencement of construction on the $230 million Saigon Premier Container Terminal (SPCT), in a joint venture between DP World and the Vietnamese state-owned Tan Thuan Industrial Promotion Company (IPC).
