PSA Corp in joint-venture to develop Dalian

Singapore-based PSA Corp has established a joint venture with the Port of Dalian Authority (PDA) to promote the redevelopment of the eastern port area.

The agreement gives PSA 50 per cent of the joint-venture company.

'PSA Corp has the experience and expertise in container-handling business, port development, the management of waterfront facilities and other port-related activities,' said Dalian mayor Bo Xilai.

'This expertise will complement the Dalian municipal government's efforts to develop Dalian into an economic business hub for north China and the most beautiful marina city for the whole of China,' he said.

The agreement will allow both PDA and PSA to explore co-operation in promoting the re-development of Donggang, the area around the Dalian port.

PDA and PSA will form a company to oversee planning, marketing and implementation of development of the Donggang area, which is situated next to Dalian's busiest business district.