Hutchison Port agrees to Yantian land expropriation

The land between Pinghu South and Yantian Port stations in Shenzen will be redeveloped.

Hutchison Port Holdings Management Pte. Limited agreed to an expropriation with Yantian International Container Terminals Limited (YICT) for the purpose of redeveloping the land located between Pinghu South and Yantian Port stations.

The second redevelopment is initiated by the Shenzen Municipal Government for the expropriation of an additional 7,775 square metres owned by YICT, together with the immovable assets attached to the land, according to a bourse filing.

The land to be redeveloped is currently not in use by YICT. The second YICT compensation will be payable in one tranche.