MOL buys shares of CIG Yangtze Ports PLC
MOL became shareholders of CIG Yangtze Ports PLC, a Hong Kong company by buying
shares through IPO.
CIG Yangtze Port PLC (hereinafter called as CIG) is 85 % of shareholders of Wuhan
International Container Transshipment Co., LTD (hereinafter called as WIT) with
Chinese partners. By being a shareholder of CIG, MOL expects to participate in,
contribute to and advise CIG on the development, management and expansion of WIT.
Economic growth along the river is significant, especially in the inland areas with
launching many industries including major car manufactures. Wuhan is regarded as
the important strategic point for Yangtze River logistics for its location, directly
connecting to the global port, Shanghai, and surrounding industrial base.
Under MOL’s mid-term management plan, MOL STEP, China is one of the most
important area for our business growth and by becoming shareholder of CIG, MOL
could provide better liner and logistic service to our customers in China.