Shenhua's Zhuhai project gets approval

The National Development and Reform Commission has approved the first-stage of China Shenhua Energy Co Ltd's construction project in Guangdong's province's Zhuhai port, the company said on July 13.

The project is to build a coal storage and transportation center in the port, the nation's largest coal producer said.

The center will have two 100,000-ton coal loading and unloading berths, one 50,000-ton coal ship berth and four 3,000-ton coal ship berths. The planned annual capacity is 40.80 million tons.

The total investment is 4.57 billion yuan ($716.6 million). A subsidiary company of Shenhua in Zhuhai will fund 30 percent of the investment, while the remaining funds will be from bank loans.

According to Shenhua, the project will ease the tense situation of coal terminal capacity in Guangdong province and improve the regional supply level.

Due to an increase in coal imports and the decline of power plants consumption, more and more coal has been overstocked in ports since June.

liuce@chinadaily.com.cn