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Chinese Commission Approves Coal Transit Base Project

  • The National Development and Reform Commission of China has approved the Shantou Port Haimen Terminal Zone Huaneng Coal Transit Base Project in Guangdong Province.The project proposes to transform and construct 70,000 dead weight tonnage coal unloading berth each, construct 50,000 DWT coal loading berth and 3,000 DWT multi purpose berth with a planned throughput capacity of 22.7 million tonnes per annum.
  • The project will cost about CNY 2.44 billion, 30% of which is capital contribution to be funded by Huaneng Power International, China Power Investment Corporation and Shantou Port Group Corporation in proportion of 60%, 20% and 20% respectively with the remaining to be funded by bank loans.Huaneng Power International holds 60% equity interest in the coal transit base project while China Power Investment Corporation and Shantou Port Group Corporation each own 20% interest in the project.

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