China Merchants Mulls Further Expansion
China Merchants Holdings International (CMHI) has announced plans to invest in 10 overseas ports in regions that include Russia, West Africa and South East Asia.
China Merchants Holdings International Co Ltd (CMHI), listed on the Hong Kong Stock Exchange, manages ports and manufactures containers. It is the largest public port operator in China in terms of container throughput, with a market share of roughly 33%.
It is is looking for new investment opportunities in Southeast Asia, East and West Africa and Baltic Sea region and Russia.
Bai Jingtao, Managing Director at CMHI, said: “It is important for the nation of China to build international connections so it can develop together with different countries.
“Our development plan mirrors One Belt One Road and this is the primary driver of our expansion strategy. We continue to look for more partners to work with overseas.”
New projects would be announced over the course of the next five years and beyond as CMHI locates suitable partners and deals, Bai said.
China Merchants Holdings started aggressive foreign expansion in 2008 and now has assets in more than 320 terminals in 29 ports around the world and plans additional acquisitions during the next 3 years.