GZI Transport to invest in Wuzhou Port deal

PUBLISHED : Thursday, 17 February, 2011, 12:00am
UPDATED : Thursday, 17 February, 2011, 12:00am

GZI Transport has entered into an agreement on a joint venture with Xin Yue (Guangzhou) Investment and Wuzhou City Transport Investment Development, through which GZI will own 51 per cent of Wuzhou Port. GZI will contribute 87.2 million yuan (HK$102.95 million) to the venture's registered capital, which will be 171 million yuan. The total investment in Wuzhou Port amounts to 513 million yuan but details of the investment have not been finalised. GZI will be renamed Yuexiu Transport Infrastructure to reflect its diversification from toll roads to infrastructure in general.