Beijing: China Shenhua Group, a large scale power enterprise directly controlled by Chinese central government, has signed a strategic agreement with Lianyungang Port Group in Beijing this week to develop the largest ever project in Lianyungang port, one of the nation’s fastest growing ports.
According to the agreement, the two groups will jointly invest RMB20bn to develop a large-scale coal & energy storage and transfer project at the port and update the infrastructure and railway links of the port. The investment could reach RMB50bn in the future.
“The cooperation between Shenhua Group and Lianyungang Port will be a significant support to the coastal development in Jiangsu province and it will optimize both Shenhua’s nationwide network and Jiangsu’s industrial layout,” said Li Qiang, Party Secretary Chief of Lianyungang City.
Lianyungang port has achieved a port throughput of 139m tons for the first three quarters this year, a 10.8% growth year-on-year. [15/11/12]