SPG signs equity transfer contract with Sime Darby Group

Shandong Port Group (SPG), which is currently the world's largest port conglomerate in terms of cargo capacity, signed an equity transfer contract with Malaysia's Sime Darby Group in Weifeng, East China's Shandong province on July 3, which is an important move for SPG to achieve integrated development of its ports.
 

Weifang Sime Darby Port Company now has two major operating areas, a logistics park with an area of 3,500 mu (233.33 hectares), and 23 berths, including 16 berths above the 10,000-metric-ton level. The cargoes operated by the port mainly include more than 50 types of goods such as coal, bauxite, iron ore powder, liquefied products, raw salt, and wood chips, and the supply of goods covers chemical, energy, food, paper, construction, mechanical processing and other industries. According to official data, the port handled 14.9 million tons of cargo in 2021, and its container throughput was 106,100 twenty-foot equivalent units (TEUs).
 

The equity transfer agreement with Sime Darby Group will effectively enhance the throughput scale and overall service capacity of Bohai Bay Port, promote the in-depth integration and development of industries and Weifang city, and create a new chapter in the development of Weifang.
 

SPG plans to integrate into Weifang's high-quality development under the country's new development pattern of "dual circulation", and actively dovetail itself with the national strategies such as the ecological protection and high-quality development of the Yellow River basin.

Source: SPG

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