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Access Engineering 10% stake or more is said to be eyed by China Merchants Holdings (International) Company Limited (SEHK: 0144) (CMHICL). CMHICL is a major conglomerate based in Hong Kong and is involved in a range of businesses such as port operations, general and bulk cargo transportation, container and shipping business, air cargo, logistics park operation and paint products. The predecessor of the parent company was established in 1872 and was the pre-eminent industrial and commercial group in mainland China.
Access Engineering PLC’s (AEL) 30% of Zhenhua Heavy Industries Company Ltd (ZPMC) for Rs.60 million in August 2013 which is a port handling machinery maintenance firm set up with China’s Shanghai Zhenhua Heavy Industries Company Ltd (ZPMC) that has made profits within five months of operation.It has already contributed Rs. 6 million to the bottom line in the quarter ended 31 December 2013 of AEL. ZMPC will also explore possibilities of manufacturing and refurbishment of Cranes out of Sri Lanka.The company is in contract with Colombo International Container Terminals (CICT) on to service and maintain Container handling Equipment of CICT.
Further China Merchants Holdings (CMHICL) has awarded contracts of several projects they are handling in Sri Lanka to Access Engineering PLC and thus CMHICL in return said to be having a considerable stake in AEL to encourage further joint operation of activities between China Merchants group and Access Engineering Group.
China Merchants (CMHICL) already owns and control Sri Lanka's Colombo International Container Terminals Ltd., (CICT) which is a joint venture Company between China Merchants Holdings (International) Co., Ltd. (CMHICL), a listed blue chip Company in the Hong Kong stock exchange, and the Sri Lanka Ports Authority (SLPA).
It is developing the 2.4 million teus capacity Colombo South Container Terminal in the Port of Colombo, under a 35 year build, operate, and transfer agreement with the SLPA. The largest shareholder of this company is CMHI with 85% ownership and the balance 15% being held by SLPA.
CICT commenced construction works of the terminal in December 2011. With an envisaged investment of US$ 500 million, including the installation of the latest state of the art terminal equipment, it is so far the single largest foreign direct investment in Sri Lanka by a private entity.
The Port of Colombo with a current capacity of over 4 million teus, has embarked on a large infrastructure development programme to increase the total capacity of the Port of Colombo by another 7.2 million teus in three separate phases.
The Colombo South Harbour Development which consists of three independent dedicated container terminals will create this additional capacity in three different phases of 2.4 million teus in each phase.
Access Engineering PLC’s (AEL) 30% of Zhenhua Heavy Industries Company Ltd (ZPMC) for Rs.60 million in August 2013 which is a port handling machinery maintenance firm set up with China’s Shanghai Zhenhua Heavy Industries Company Ltd (ZPMC) that has made profits within five months of operation.It has already contributed Rs. 6 million to the bottom line in the quarter ended 31 December 2013 of AEL. ZMPC will also explore possibilities of manufacturing and refurbishment of Cranes out of Sri Lanka.The company is in contract with Colombo International Container Terminals (CICT) on to service and maintain Container handling Equipment of CICT.
Further China Merchants Holdings (CMHICL) has awarded contracts of several projects they are handling in Sri Lanka to Access Engineering PLC and thus CMHICL in return said to be having a considerable stake in AEL to encourage further joint operation of activities between China Merchants group and Access Engineering Group.
China Merchants (CMHICL) already owns and control Sri Lanka's Colombo International Container Terminals Ltd., (CICT) which is a joint venture Company between China Merchants Holdings (International) Co., Ltd. (CMHICL), a listed blue chip Company in the Hong Kong stock exchange, and the Sri Lanka Ports Authority (SLPA).
It is developing the 2.4 million teus capacity Colombo South Container Terminal in the Port of Colombo, under a 35 year build, operate, and transfer agreement with the SLPA. The largest shareholder of this company is CMHI with 85% ownership and the balance 15% being held by SLPA.
CICT commenced construction works of the terminal in December 2011. With an envisaged investment of US$ 500 million, including the installation of the latest state of the art terminal equipment, it is so far the single largest foreign direct investment in Sri Lanka by a private entity.
The Port of Colombo with a current capacity of over 4 million teus, has embarked on a large infrastructure development programme to increase the total capacity of the Port of Colombo by another 7.2 million teus in three separate phases.
The Colombo South Harbour Development which consists of three independent dedicated container terminals will create this additional capacity in three different phases of 2.4 million teus in each phase.
