Hk Welcomes Container Terminal Deal

Resolution of the matter has been complex, financial secretary Donald Tsang said after the deal on the CT9 terminal was announced by Chinese and British negotiators.

The government hoped construction could start by the end of the year, he added.

The agreement allows Asia Container Terminals Ltd, previously known as Tsing Yi Consortium Ltd, to exchange its share in the ninth container terminal for two existing berths in CT8, owned by Modern Terminals Ltd. It also provides for CT9 to be shared by MTL and Hong Kong International Terminals Ltd.

The development of Hong Kong's ninth container port has been held up for four years by Chinese objections to the way the contract was awarded.