Green light for Shenhua Energy to expand Hebei port

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Beijing: China Shenhua Energy has announced that its expansion of the Huanghua Port has been approved by the National Development and Reform Commission (NDRC), China's macro-economy regulator. Upon the construction scheme, a 50,000-ton coal shipment berth, a 310-meter dock, as well as related onshore and offshore facilities will be created in the Huanghua Port, Hebei Province, north China. And the annual shipment capacity is designed to be 13 million tons.
The capital base of this expansion project is CNY 197 million, representing 35% of the total investment, namely CNY 564 million or so.
Shenhua Energy and Hebei Construction & Communications Investment Co., Ltd. (transliterated) will invest in the project on a stake of 70% and 30% they respectively hold. Meanwhile, the investment excluding total capital base will be served by the bank loan.  [07/08/09]