Zhejiang Energy sets up port investment arm

Shanghai: Zhejiang Energy has set up a port investment venture with a provincial controlled finance company for better development of its marine business, with the total investment reaching RMB6.4bn.

The new jv, Zhejiang Haitou Group, will be engaged in marine industry investment and offshore engineering, has purchased Zhejiang Toumen Port Investment and will be participated in the development and construction of Zhoushan Jintangdao container port area .

The company is also considering to inject its shipping subsidiary Ningbo Marine into the new venture, said an official from Zhejiang Energy.[09/10/14]

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