Jingtang International Container Port Co. Ltd.

MIGA has issued a €4.8 million ($6.1 million) guarantee to Dragados Servicios Portuarios y Logísticos (Dragados) for its €5.3 million investment in Jingtang International Container Port Co., Ltd. in the People’s Rebublic of China (PRC). The guarantee is for a period of 15 years and provides coverage against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves the acquisition of two berths in the port of Jingtang. Located on the Bohai Sea, it is the main port infrastructure in Hebei Province. Dragados is the first foreign investor in the port and plans to make significant upgrades.

Jintang port’s container facilities are poorly developed and do not handle containers efficiently. Dragados plans to expand the port by investing in cranes, yard equipment, and improvements in infrastructure, which will result in increased employment and capacity. Technology will also be upgraded with new computer systems to manage throughput more efficiently.

The project is consistent with the World Bank Group’s country assistance strategy for the PRC by furthering the country’s transition to a market economy and promoting private sector participation in social and physical infrastructure services.