(MENAFN) A joint venture set up by a Chinese investor consortium has bought a 65 percent share of Turkey's third largest container terminal for USD940 million, the company reported.
The acquisition was made by a firm jointly established by the subsidiaries of COSCO Pacific, China Merchants Holdings (International) and an affiliate with the China Investment Corporation.
The investors purchased Kumport Terminal, located on the northwest coast of the Marmara Sea. It's able to handle 1.84 million 20-foot equivalent units (TEU) of cargo and has room for expansion to up to 3.5 million TEU capacity.
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