COSCO-Dalian Cooperative Agreement Signed |
On July 21, Dalian Municipal Government signed a strategic cooperation frame agreement with China Ocean Shipping (Group) Company, based upon which both sides will carry out an all-rounded cooperation and promote Dalian to build itself into a "Northeast Asia International Shipping Center". It is learned this is the first time that COSCO establishes such a strategic relationship with a local government.
Wei Jiafu, President of COSCO, says that his corporation will introduce the existing drilling platform technology of Singapore into its ship repair branch, and move the branch¡¯s head office into Dalian together with that technology. Besides, COSCO will also build fifteen 300,000-ton VLCCs for the city with an input of USD 1.2 billion and expand COSCO Dalian¡¯s 1 million DWT tanker fleet into one of 7 million DWT by 2010. That means COSCO Dalian will become a No. 1 oil transport company in China by then.
¡¡ Currently, COSCO has invested about RMB 1 billion in Ro/Ro and the phase-2 container terminals of Dalian Port, and more has been planned for the bulk and crude terminals.
What¡¯s more, the Dalian-Changchun-Shenyang container train service, jointly launched by Dalian Port and COSCO, is also the biggest container service of its kind in China at present.
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