Hutch unit plans first with Vancouver terminal bid
Hutchison Port Holdings, a unit of the Li Ka-shing-controlled Hutchison Whampoa (0013), plans to bid for a new container terminal near Vancouver, according to Canadian media reports.
Patrick McLaughlin, director of planning and development for the Vancouver Port Authority, confirmed that Hutchison - the world's largest port operator - is among companies interested in the Terminal2 project at Roberts Bank.
He said Li's company is creating the most buzz.
"We want to start this by going to the international community and say, we've heard you're interested, we need to confirm that,' and from that, pick someone who is interested in being a partner in this process," McLaughlin was quoted by The Vancouver Sun as saying.
He said the port authority will invite companies to submit expressions of interest within two months.
"By the end of the year, we hope to have a business partner," he added.
Hutchison operates 46 container terminals in Asia, Europe, Central and South America, and the Middle East, but does not have a presence in North America, so the Roberts Bank project would give it a foothold in the market there. At present, the Hutchison group controls Calgary-based Husky Energy, one of Canada's largest integrated oil and gas companies.
The Terminal2 Project is the second phase of the Roberts Bank Container Expansion Program. The terminal, located close to Deltaport, which was sold last year by Orient Overseas International (0316) to the Ontario Teachers' Pension Plan, will have the capacity to handle 1.9 million container boxes annually, according to the Vancouver Port Authority.
The new project will include land for terminal infrastructure development, a wharf to accommodate three shipping berths, on-site container storage and internodal facilities. The entire expansion project is estimated to be worth C$1 billion (HK$6.7 billion).
Hutchison Port said Thursday the company's policy is to "not comment on our future port development plans."
Earlier this month, the company said it signed a joint-venture deal to build and operate a container terminal in the Vietnamese province of Ba Ria-Vung Tau.
Hutchison Whampoa shares closed Wednesday at HK$79.70, up 10 HK cents or 0.126 percent.
Patrick McLaughlin, director of planning and development for the Vancouver Port Authority, confirmed that Hutchison - the world's largest port operator - is among companies interested in the Terminal2 project at Roberts Bank.
He said Li's company is creating the most buzz.
"We want to start this by going to the international community and say, we've heard you're interested, we need to confirm that,' and from that, pick someone who is interested in being a partner in this process," McLaughlin was quoted by The Vancouver Sun as saying.
He said the port authority will invite companies to submit expressions of interest within two months.
"By the end of the year, we hope to have a business partner," he added.
Hutchison operates 46 container terminals in Asia, Europe, Central and South America, and the Middle East, but does not have a presence in North America, so the Roberts Bank project would give it a foothold in the market there. At present, the Hutchison group controls Calgary-based Husky Energy, one of Canada's largest integrated oil and gas companies.
The Terminal2 Project is the second phase of the Roberts Bank Container Expansion Program. The terminal, located close to Deltaport, which was sold last year by Orient Overseas International (0316) to the Ontario Teachers' Pension Plan, will have the capacity to handle 1.9 million container boxes annually, according to the Vancouver Port Authority.
The new project will include land for terminal infrastructure development, a wharf to accommodate three shipping berths, on-site container storage and internodal facilities. The entire expansion project is estimated to be worth C$1 billion (HK$6.7 billion).
Hutchison Port said Thursday the company's policy is to "not comment on our future port development plans."
Earlier this month, the company said it signed a joint-venture deal to build and operate a container terminal in the Vietnamese province of Ba Ria-Vung Tau.
Hutchison Whampoa shares closed Wednesday at HK$79.70, up 10 HK cents or 0.126 percent.
