SHANGDONG Port Overseas, a unit of Shandong Port Group, has signed a memorandum of understanding (MoU) with Rizhao Port to jointly develop international markets.
According to a filing, the two parties will set up a joint venture, Shandong Port Overseas Development (Rizhao) Co Ltd, to provide production management, equipment operation and maintenance service for a coal terminal at Port Qasim, Pakistan, as well as the bauxite port project at Boffa, Guinea, reports Colchester's Seatrade Maritime News.
The two parties will also promote overseas resources consolidation and expand ports connection.
Shandong Port Group, established in 2019 participates in several overseas port projects mainly in Italy, United Arab Emirates, Guinea, Pakistan and Myanmar. The group recorded 1.32 billion tonnes cargo throughput and 29.56 million TEU volume last year.