Tangshan Port to issue A shares for expansion

China's Tangshan Port Group (TSP) intends to list on the A-share market and boosts port development in the Caofeidian area in the province of Hebei.

The group will integrate the current Jingtang Port and coal collussus Caofeidian Port, both to the southeast of Tangshan city, into Tangshan Port. The proceeds from the IPO will be used for port development in the Caofeidian A area. Brand development is a major task in 2008. The group will raise efficiency of terminals and improve customer service to achieve the goal. The throughput volume of Jingtang Port soared 89.5% on year to 6.52 million tons in April.

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