China Ocean Shipping or COSCO has said it is in talks to invest in a container port in Kaohsiung, Taiwan. A report states the port was jointly developed by Yang Ming Marine Transport and the Taiwan government.
The deal, which is still subject approval from Taiwan authorities, may become the first mainland enterprise to invest in Taiwan’s port industry.
Wei Jiafu, president of COSCO, said that if a deal is reached, COSCO Pacific and Yang Ming Marine Transport will jointly run the port. But he added the negotiations have not yet reached the point of final agreement
China Knowledge reported that in October, Yang Ming Marine Transport said it had received proposals from COSCO and China Merchants Group to acquire a 40% stake in the port.
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