Tianjin Port Group (TPG) and PSA International (PSA) have announced the signing of a strategic cooperation framework agreement to strengthen ties and foster greater cooperation between the two organisations.
The Agreement was signed by Tian Chang Song, president TPG and Tan Chong Meng, CEO of PSA, in the presence of Yu Ru Min, chairman of TPG and Fock Siew Wah, chairman of PSA.
TPG and PSA currently have extensive collaboration on port projects in China. PSA has invested in two of Tianjin Port's container terminals, namely Tianjin Port Pacific International Container Terminal (TPCT) and Tianjin Port Alliance International Container Terminal (TACT).
These two facilities have altogether 10 berths and can handle the biggest container ships in use, hence making Tianjin Port 'one of the preferred hub ports of call for mega container vessels in the Northeast Asia region', while the agreement signed forms the basis for both companies to seek further collaboration and expansion.
"This Agreement is another critical milestone in the very friendly and positive relationship that TPG has with PSA," said Tian Chang Song, president of TPG. "Both organisations recognise the tremendous potential of Tianjin Port as a major container hub port in the Bohai Rim to support the further development of industries and hinterland investments in Northeast China. Together, TPG and PSA aim to ensure that Tianjin Port will be a world class facility for global container shipping."
Tan Chong Meng, Group CEO of PSA, was also very positive about the signing of the Agreement: "I thank TPG for giving PSA this opportunity to enhance our bilateral ties and further our involvement in developing Tianjin Port. PSA is committed to give its best expertise and resources to help develop Tianjin Port into a resounding success."