Jingtang International Container Terminal

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In November 2003 the local port authority of Jingtang, China, awarded a 50 year build-rehabilitate, operate and transfer contract for the port’s operation to special purpose company Jingtang International Container Port Co. Ltd. In 2003 the container port of Jingtang, situated on the Bohai Sea in the province of Hebei, had poorly developed facilities and was not operating efficiently. The concessionaire planned to invest some 36 million Euros ($35 million) to expand the port by purchasing new cranes, yard equipment, and improving the infrastructure. By 2006 the port was intended to handle 400,000 TEU. Jingtang International Container Port Co. Ltd. was created as a joint venture between Spanish company Dragados Servicios Portuarios y Logisticos (52%) and state owned Tangshan Port Investment (40%) and Beijing Jinzhou Engineering & Technology (8%). Dragados was a subsidiary of Actividades de Construccion y Servicios SA (ACS). Dragados was to begin operating the Jingtang port in February 2004, when construction was to be completed. In 2004 Dragados received a $6.1 million MIGA guarantee. The guarantee was for a period of 15 years and provided coverage against the risks of transfer restriction, expropriation, war and civil disturbance.