Cosco to invest in Tianjin

During the past year, 1,100 new longshoremen were hired, increasing employment for an industry that already supports 228,000 jobs in the region.

Cosco Pacific, the Hong Kong-based subsidiary of China’s largest shipping line, has signed a memorandum of understanding to take a 50% stake in the construction of six new berths in partnership with Tianjin port authority. Work will begin in the first half of 2004 with commissioning to take place in 2005.