China’s north port company, Qinhuangdao Port is to set up a joint venture with a number of coal, port and shipping industry players to improve coal transport and supply chain.
The total registered capital of the jv will be RMB600m ($87m), among which, the company will contribute RMB24m, representing 4% of the total registered capital of the joint venture. The other major contributors include China Railway Construction Investment Corporation, SDIC Caofeidian Port, Tangshan Port Group, Qinhuangdao Ocean Shipping Coal Trading Market, Shenhua Sales Group, China Coal Energy Company and other related industry players.
The venture will be engaged in the wholesale of coal and related products, trade brokerage and agency for road freight transportation, waterborne transportation, loading and unloading, general warehousing, multimodal transport and freight forwarding agency.
Capital contributors of the jv cover key enterprises in China across all aspects of coal production and transportation needs, with the advantages of integrating coal supply and demand, railway, port, road transportation, warehousing, quality inspection, financing, settlement and other resources.
Qinhuangdao Port said the investment in the jv would strengthe the company's role in the coal industry chain,.
Port of Qinhuangdao is a seaport on the Bohai Sea, Hebei province, and is a major port for coal transportation in China.
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