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THE terminal operating arm of the AP Moller-Maersk Group, APM Terminals, is leading a joint venture to develop, own and operate the Shenzhen Dachan Bay Phase Two Container Terminal in China's thriving Pearl River Delta manufacturing base. Together with the other investors in the JV, Dachan Bay Port Investment and Development Co., Ltd and China Merchants Holdings (International) Company, the three parties recently signed an agreement to cement the CNY7.3 billion (US$958.07 million) joint venture at the Shenzhen Municipal Centre.