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Cooperation Agreement Signed between Guangzhou, PSA
Guangzhou Harbor Bureau and Singapore's PSA Corporation signed an agreement here Monday to form a joint venture company to provide logistics services and comprehensive container depot services.
The agreement was signed by Huang Guo Sheng, Director-General of Guanzhou Harbor Bureau, Guangdong Province, China, and Khoo Teng Chye, Group President of the PSA Corporation.
The newly-formed company, named Guangzhou-PSA Logistics Co Ltd., was set up as a joint venture between Guangzhou Container Comprehensive Development Co Ltd and PSA China Pte Ltd, PSA Corporation's subsidiary, and designed to provide specialized third-party logistics services for large MNCs based in South China and comprehensive container depot services to complement the operations at the three container berths at Guanzhou Huangpu Xingang.
These berths at Guangzhou Huangpu Xingang will be managed and operated by the 50-50 joint venture company formed between the Guangzhou Harbor Bureau and the PSA Cooperation on April 10 this year.
Huang Guo Sheng said at the signing ceremony that he is confident that the formation of the Joint venture will be a great boost to the container handling operations at Guangzhou Huangpu Xingang and the enhanced facilities at the port would be greatly welcomed by customers, including both shipping lines and shippers as the services provided by the new joint venture company will cater to the increasing volume of cargo generated by Guangzhou's hinterland.
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