Xiamen International Port said that it would buy a 25 percent stake in Songyu container terminal from APM Terminals.
Xiamen International Port will pay for the acquisition mainly with internal resources, of which not more than 50 percent will be paid with bank loans.
The container terminal is owned by Xiamen Port Holding Group, parent of Xiamen International Port and APM Terminals, with each holding a 50 percent stake.
Being able to hold container ships with 18,000 TEUs, the terminal will enable the group to adapt to future large-scale shipping demand and enhance the group's competitiveness.
Xiamen International Port mainly handles containers, bulk and break bulk cargos in international and domestic trade and provides port value-added services.