Kong Wah puts final touches to blueprint

Kenneth Ko

KONG Wah Holdings is putting the final touches on a proposed 900 million yuan (about HK$1.21 billion at the official rate) joint venture development of three container terminals in Ma Wan port, Shenzhen.

Chairman Lam Chung-kiu said after the official opening of its new electronics plant in Zhongshan yesterday that the blueprint of the project would be out on Friday.

After that, Kong Wah and its partner Nanhai Oil Shenzhen Development and Service Corp would conclude the development, which comprises the construction of two 30,000-tonne terminals and a 50,000-tonne terminal.

Mr Lam said Kong Wah was still looking for a qualified overseas partner to join the project.

The project will be undertaken by Shenzhen Harbour City Industrial Development, a joint venture 70 per cent owned by Kong Wah and 30 per cent owned by Nanhai Oil.

Mr Lam said Kong Wah also planned to set up a joint-venture plant in Russia to manufacture television sets and audio equipment.

Nearer to home, a new plant, known as Kawa Electronics City, was opened in Zhongshan yesterday. The joint venture is 75 per cent owned by Kong Wah and 25 per cent by the Zhongshan authorities.

It has more than 800,000 sq ft of production space and HK$200 million worth of investment.