Tianjin Port Group (TPG) China, and Singapore's PSA International (PSA) have signed a "strategic cooperation framework agreement" to develop Tianjin Port
So far, PSA has invested in two of the port's container terminals, namely Tianjin Port Pacific International Container Terminal (TPCT) and Tianjin Port Alliance International Container Terminal (TACT).
These two facilities have a total of 10 berths that can handle the biggest containerships. This makes "Tianjin Port one of the preferred ports of call for mega containerships in the northeast Asia region," said the joint statement.
Said TPG president Tian Chang Song: "Both organisations recognise the tremendous potential of Tianjin Port as a major container hub in the Bohai Rim to support the further development of industries and hinterland investments in northeast China. Together, TPG and PSA aim to ensure that Tianjin Port will be a world class facility for global container shipping."
Said PSA chief executive Tan Chong Meng: "PSA is committed to give its best expertise and resources to help develop Tianjin Port into a resounding success."
The agreement was signed on May 18 by TPG group president Tian Chang Song and PSA group CEO Tan Chong Meng in the presence of TPG chairman Yu Ru Min and PSA group chairman Fock Siew Wah.