A joint Letter of Intent was signed on Tuesday 10 May between Malmö City, Copenhagen Malmo Port (CMP) and the world’s ninth largest port, Dalian Port, with the ultimate objective of creating a Chinese warehouse, a Liaoning Warehouse, in Malmö Industrial Park.
The Letter of Intent contains a joint time schedule and an arrangement which has the aim of strengthening commercial ties between Liaoning province in Northeast China and the Malmö-Copenhagen region. Initially, in stage 1, it entails identifying and specifying the flows of freight which either currently exist or can be created between the two markets, as well as investigating the various practical issues that have to be resolved in order to be able to make a Liaoning Warehouse a reality in Malmö Industrial Park. In the next stage, stage 2, the work entails implementing and preparing an establishment and subsequently, in stage 3, Malmö City being able to offer a site reservation in the industrial park for a Liaoning Warehouse of at least 20,000 m2.
In connection with signing the letter of intent in Malmö, the Chinese delegation from Dalian Port has spent three days together with CMP and the Real Estate Office visiting Invest in Skåne and WMU (World Maritime University), as well as potential collaborative partners.
Letter of intent being signed by Real Estate Director Klas Johansson, CMP’s CEO Johan Röstin and Dalian Port’s Han Zhiqiang.
Before signing the LOI, the Chinese delegation were out and about in Northern Harbour together with representatives from Skanska and CMP, as well as Real Estate Office staff members Magnus, Olle and Lars, to see how far the development of Malmö Industrial Park has come.
Letter of intent (LOI)
A letter of intent is usually drawn up before negotiation of the final contract is completed as a document where the parties state their intention to continue negotiating with the aim of reaching a final agreement and putting the main points in writing for the future contract.