29
Mar
00:00
Chu Kong launches port joint venture
China’s Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (Chu Kong) has entered into a port logistics joint venture to control the 6 million tonne/year Xuwei Port at Jiangsu provinces Lianyungang. Chu Kong has been pushing aggressively to diversify and expand abroad with new plants in Indonesia and Saudi Arabia in order to compensate for severe competition on the domestic pipe market, Kallanish notes.
The as yet unnamed venture will be 25%-owned …
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