Overseas investors snare Yangshan Port

APM Terminals and Hutchison Port Holdings have signed an agreement to buy into Phase II of the Yangshan deepwater port near Shanghai, the Wall Street Journal reported. The companies will each take 32% of the four-berth project, becoming the first investors from outside the mainland to join the multibillion-dollar container project. Shanghai International Port (Group) Co (SIPG) will take 16% of Phase II and Cosco Pacific Ltd. and China Shipping Group will each have 10%. Phase II will cost $740 million to $870 million, the Journal reported.