China's Shenhua Energy Co Ltd has formed a joint venture with Guangdong Electric Power Development Co Ltd and Zhuhai Port Co Ltd to build a coal facility in the southern city of Zhuhai for 4 billion yuan, sources reported.
The consortium planned to build a coal storage and receiving terminal with an annual capacity of 40 million tonnes. The terminal would have several berths to handle handymax and panamax-sized vessels, and two berths for capesized bulk carriers with up to 150,000 tonnes capacity, Zhuhai Port said in a statement.
Shenhua would hold a 40 percent stake in the joint venture, while Guangdong Electric and Zhuhai Port would each hold 30 percent, it said.
Zhuhai is a prefecture-level city on the southern coast of Guangdong province, where coal imports have surged in recent years as high domestic prices and transport bottlenecks for supplies from northern provinces have encouraged users to seek cheaper alternatives from overseas.
