Taiwan firm buys 50% of China port in landmark deal

HONG KONG: Taiwan’s Evergreen Marine Corp has clinched a landmark deal to take a 50% stake in China’s second busiest port. 

But given the political sensitivities, the US$125mil investment in Ningbo port, located just south of Shanghai, will be made by Evergreen’s Italian subsidiary, Lloyd Triestino. The deal is the first China port investment by a Taiwan company.