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| Contact: | Helen Du |
| Telephone: | (86-755) 25290457 |
| Fax: | (86-755) 25290234 |
| E-mail: | helen.du@yict.com.cn |
- Over RMB10 Billion Committed -
[8 November 2005, Shenzhen] Hutchison Port Holdings (HPH) Group and Shenzhen Yantian Port Group (YPG) officially signed a joint-venture contract today with a total investment of over RMB10 billion to develop the Yantian Port Expansion Project.
The Expansion Project is a joint investment between the HPH Group and YPG, with each party holding a 65 percent and 35 percent respective stake in the project.
Incorporating an additional 136 hectares with a quay length of 3,297 metres, the Expansion Project will include the construction of six new container berths, capable of accommodating 10,000-plus TEU mega vessels. The Expansion Project was approved by the Central Government in March 2005. The first berth will come on stream in the second half of 2006 and the entire project is due for completion by 2010.
Upon completion, Yantian International Container Terminals (YICT) will realise a total area of 344 hectares with 15 deep-water container berths. The number of quay cranes and rubber-tyred gantry cranes will increase to 71 and 286 respectively.
Since commencing operations in 1994, YICT's annual throughput has increased expeditiously from 13,000 TEU in 1994 to 6.26 million TEU in 2004, amassing close to 50 percent of Shenzhen's total throughput. Over the past 12 years, YICT has accrued an accumulative total throughput of 31 million TEU.
YICT's current 208 hectare site with 9 operational deep-water container berths operates 75 weekly international shipping services round-the-clock. YICT has firmly established itself as South China's hub port.
At the signing ceremony, Mr. Xu Zongheng, Mayor of Shenzhen City, remarked, "Port and logistics are the pillar industries contributing to Shenzhen's continued economic development and therefore a top priority of the Shenzhen Municipal Government. Today's signing ceremony represents a significant step forward in realising the city's vision of enhancing Shenzhen's strengths through port development as well as promoting cooperation within the Pan-Pearl River Delta."
Mr. Li Ka-shing, Chairman of Hutchison Whampoa Limited (HWL), said, "YICT has achieved exponential growth through the close cooperation between the relevant parties concerned." Commenting on the future, Mr. Li said, "We firmly believe that South China will remain one of the fastest growing regions in the world, where economic development will continue to experience significant rates in growth. This provides Yantian Port with a great opportunity for further development. HWL is willing to work together with the Shenzhen Municipal Government to build Shenzhen Port into a world-class hub, thus ensuring its continued contribution to Shenzhen's future development."
The signing ceremony was witnessed by Mr. Li Hongzhong, Party Secretary of Shenzhen, Mr. Canning Fok, Group Managing Director of HWL, and officials from related governmental departments of Shenzhen and port administration departments.
Background Information
Yantian International Container Terminals
Located in Shenzhen, Yantian International Container Terminals (YICT) is a natural deep-water port in South China. YICT occupies an area of 208 hectares with nine deep-water container berths. The terminal is not only equipped with state-of-the-art operational equipment and computer systems, but is also well connected to road and rail networks within the region. Yantian has now become a priority port of call for mega vessels. YICT is currently developing its Yantian Port Expansion Project, which consists of six deep-water container berths and is due for completion by 2010.
YICT is a member of the Hutchison Port Holdings (HPH) Group, a wholly-owned subsidiary of the multinational conglomerate Hutchison Whampoa Limited (HWL). HPH is the world's leading port investor, developer and operator with interests in 19 countries throughout Asia, the Middle East, Africa, Europe and the Americas. Today, HPH operates in a total of 40 ports together with a number of transportation related service companies.
Appendixes:
1. YICT's Key Facts
2. YICT Annual Throughput
3. YICT Milestones
4. YICT Major Awards
YICT's Key Facts
YICT Annual Throughput
(Million TEU)
YICT Milestones
5 October 1993
HPH and Shenzhen Dong Peng Industry Company Limited (now renamed YPG) signed the joint venture contract establishing YICT, in Diaoyutai State Guest House, Beijing.
20 July 1994
The first ocean-going container vessel, 'Maersk Algeciras' called at YICT, which marked the start of official operations at the terminal.
18 December 1996
Groundbreaking ceremony held for YICT Phase II project.
5 April 2000
Mr. Li Ka-shing visited YICT. HPH and YPG sign 'Letter of Intent' regarding cooperation in Yantian Port Phase III.
1 July 2000
Yantian Port Phase II passed its official inspection by the State Examination and Acceptance Committee. Its construction quality was ranked as 'excellent'. Phase II commenced operations on 2 July 2000.
26 November 2001
HPH signed official agreements with the Shenzhen Government and Yantian Port Group to jointly develop Yantian Port Phase III.
24 May 2002
YICT handled the 10-millionth container since the commencement of the terminal. The record was achieved when YICT was operating the container vessel 'COSCO Qingdao'.
12 April 2003
Mr. Hu Jintao, President of the People's Republic of China, visited YICT.
30 October 2003
nGen, the Next Generation Terminal Management System, put into daily operation.
30 November 2004
November 2004 was the first month that YICT broke the average monthly quay crane rate of 35 moves per hour.
12 September 2005
Mr. Wen Jiabao, Premier of the State Council of the People's Republic of China, visited YICT.
8 November 2005
HPH signed official agreements with the Shenzhen Government and Yantian Port Group to jointly develop Yantian Port Expansion Project.
YICT Major Awards
 Panorama of Yantian International Container Terminals |
 Mr. Li Ka-shing, Chairman of Hutchison Whampoa Limited, delivers the speech. |
 Mr Canning Fok, Group Managing Director of HWL, Mr. Zheng Jingsheng, Chairman of Board of Directors of YPG, sign the joint-venture contract to develop the Yantian Port Expansion Project at the ceremony. |