According to a recent report, Shandong Port Overseas, a unit of Shandong Port Group, has inked a Memorandum of Understanding with Rizhao Port to jointly develop international markets.
As per the deal signed, Shandong Port Overseas will set up a joint venture with Rizhao Port - Shandong Port Overseas Development (Rizhao) Company Limited. The joint venture will provide production management, equipment operation, and maintenance service for bauxite port project at Boffa, Guinea, and coal terminal at port Qasim, Pakistan.
The joint venture company will also promote overseas resources consolidation and expand ports connection.
Shandong Port Group, established in 2019, participates in several overseas port projects, mainly in Italy, United Arab Emirates, Guinea, Pakistan and Myanmar.
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