Zhuhai Port signs jv coal terminal agreement

Zhuhai Port Co., Ltd has announced the company will sign a jv agreement to set up Shenhua Yuedian Zhuhai Port Coal Terminal Co., Ltd with national energy industry giants China Shenhua Energy and Guangdong Yuedian, Seatrade-asia reports . The port holds 30% shares of the project, Shenhua holds 40% and Yuedian holds 30%. The estimated investment of this project is around RMB 4.3bn.

The jv company will be engaged in port and terminal operation, coal storage and transportation, and coal trading. The project includes constructing two 100,000 tons-class unloading berths, six loading berths and relevant supporting facilities such as yards and roads. The designed annual throughput is 40m tons. The whole project is expected to be completed in two years.

Based on statistics that coal demands of Guangdong province will reach 175m tons by 2015, and 185m tons by 2020, imbalance between supply and demand of coal in Guangdong province will become more serious.
(Source:http://en.portnews.ru)