China Merchants Port JV set for logistics hub project

China Merchants Port Group (CMPG) has announced progress in its plan for a chemical logistics hub in Zhanjiang. The company's subsidiary, Zhanjiang Port, is partnering with Sinotrans Chemical Logistics and Sinotrans South China to establish Zhanjiang Sinotrans Chemical Logistics, a joint venture. The JV has completed registration and will begin construction of the logistics hub. Zhanjiang Port will transfer land use rights covering 79,869.16 square meters to the JV. CMPG disclosed that Zhanjiang Port has already signed a land transfer agreement with the newly-formed JV.