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COSCO SHIPPING Ports Limited and CGGC International Entered into a Strategic Cooperation Agreement

Date:2017-05-19 Read times: font size:[ L M S ]

On May 17, COSCO SHIPPING Ports Limited (Stock Code: 1199.HK) and China Gezhouba Group International Engineering Co., Ltd. (CGGC International) signed a strategic cooperation agreement in Beijing, which ushers into a new chapter of their joint endeavor in international port investment, port construction and logistics business. In the principle of friendliness, cooperation, mutual benefit and win-win outcome, the two sides agreed to establish a long-term stable strategic partnership, and collaborate in practical terms across Asia, Europe, South America and Middle East. Mr. Zhang Wei, Vice Chairman of the Board, Managing Director, Executive Director of COSCO SHIPPING Ports Limited, and Mr. Chen Xiaohua, Member of the Standing Committee of the Party Committee and Vice President of China Gezhouba Group Corporation (CGGC), Chairman of CGGC International and Chairman of China Gezhouba Group Overseas Investment Co., Ltd (CGGCOIC) signed the agreement on behalf of
each side. Mr. Lv Zexiang, President of CGGC International presided over the signing ceremony.

This agreement aims to integrate the superior resources of both sides, bringing into full play the advantage of COSCO SHIPPING Ports Limited in global port investment, operation and comprehensive
logistics management, and that of CGGC International in its worldwide branch network, abundant resources of international projects and global public relation network so as to promote active and practical cooperation between the two sides on greenbelt construction, merger and acquisitions, and investments, which contributes to the Road and Belt  Initiative proposed by China.

Mr. Zhang Dayu, Executive Vice President of COSCO SHIPPING Ports Limited, Mr. Lui Sai Kit, CFO of COSCO SHIPPING Ports Limited, Mr. Lin Xiaodan, Executive Vice President of CGGCOIC, Ms. Ma Yingying, Vice President of CGGC International, and Mr. Jiang Dehua, Assistant to President of CGGC International also attended the signing ceremony.

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