SHENZHEN Yantian Port Group (YPG) and Hutchison Port Holdings (HPH) have announced the signing of a Heads of Agreement (HoA) to jointly build and develop the Shenzhen Yantian East Port Phase I Container Terminal (East Port Phase I) at Yantian Port in South China.

The East Port Phase I Project will cover an area measuring 138 hectares. Its total quay length will stretch 1,442 metres and be split over four deepwater berths, comprising two 6,600-TEU berths and two 9,500-TEU berths.

"A joint team will soon be assembled to carry out preparation work for the construction of this phase," a joint statement issued by state-owned YPG and Yantian International Container Terminals (YICT) said.

Under the arrangement, YICT will manage East Port Phase I along with existing facilities at West Port, Phases I, II, and III, and the Expansion Project of Yantian Port, in a move that is intended to optimise the use of resources and lower operational costs.

YPG and HPH signed their first joint venture agreement in 1993. "With the construction and completion of each new phase, the relationship of the partners has grown in strength. The development of East Port Phase I will further solidify this relationship while expanding YICT's terminal operations, logistics and information services and enhancing the competitiveness of Yantian Port," the release added.