Chinese port operator Wuhu Port Storage & Transportation Co., Ltd is planning to invest $76.8 million (CNY 516 million) to expand operations at Zhujiaqiao Foreign Trade Port at Wuhu in East China's Anhui Province.
The investment will fund the construction of three additional berths at the port for 5,000-10,000 dwt vessels, providing an additional 1.74 million tonnes of cargo handling capacity at the port.
"The project calculation period is 22 years; thereinto, the construction period is two years and the production and operation period is 20 years," the company said in its filing to the Shanghai Stock Exchange (SSE), adding that it will fund 40% of the project.
The project is estimated to generate an approximate annual revenue of $13.5 million (CNY 90.5 million) for the port when completed.
Meanwhile, the operator also intends to construct a $7.45 million (CNY 50 million) steel storage and distribution base at the same location, funding 30% of the project using its own cash resources and the remaining from bank loans.
"The project calculation period is 21 years; thereinto, the construction period is one years and the production and operation period is 20 years," the operator added in the SSE filing.
Once completed, the base will be expected to generate an annual income of $2.68 (CNY 18 million).
The investment will fund the construction of three additional berths at the port for 5,000-10,000 dwt vessels, providing an additional 1.74 million tonnes of cargo handling capacity at the port.
"The project calculation period is 22 years; thereinto, the construction period is two years and the production and operation period is 20 years," the company said in its filing to the Shanghai Stock Exchange (SSE), adding that it will fund 40% of the project.
The project is estimated to generate an approximate annual revenue of $13.5 million (CNY 90.5 million) for the port when completed.
Meanwhile, the operator also intends to construct a $7.45 million (CNY 50 million) steel storage and distribution base at the same location, funding 30% of the project using its own cash resources and the remaining from bank loans.
"The project calculation period is 21 years; thereinto, the construction period is one years and the production and operation period is 20 years," the operator added in the SSE filing.
Once completed, the base will be expected to generate an annual income of $2.68 (CNY 18 million).