Bulk cargo port and logistics operator PYI Corp is expected to complete its 51 per cent acquisition of Yichang Port Group in October, according to company chairman Joseph Chow quoted by Lloyd’s List.

Mr Chow said the company continued to take measured steps to materialise its bulk cargo logistics network along the Yangtze River, delivering “satisfactory progress and promising results”.

He said Yangkou port in Rudong, Jiangsu province, contributed about HK$41m to group operating profit for the year to end March. The soft opening of Yangkou took place in October with the inauguration of a general cargo berth.

Last month, PYI Corp acquired a 25 per cent stake in Jiangyin Sunan International Container Terminal for Yuan28m from Shanghai Port Container (Macau).