Lianyungang Port Group has announced on Tuesday that the board of directors have approved a proposal to buy a 25% share in Liangyugang Xinlian Bulk Terminal Co from Sino-Rock Strategic Investment (Hong Kong)Limited. The transaction amount for the deal is RMB149m, SinoShipNews reports.
Lianyungang Port said the acquisition will help the company further its strategic goal to expand its market share in the bulk cargo handling and transportation business, and further enhance the company's competitiveness and sustainable development capability.