A new port company being funded by CHN Energy Investment Group's port subsidiary, Taizhou Xingang Investment Group and Taizhou Culture & Tourism Development Group, registered on Aug 7 to be located in Taizhou Medical High-tech Zone in Taizhou, East China's Jiangsu province.
With a registered capital of 100 million yuan ($13.94 million), the new company will be responsible for coal transfers and transportation in the upper and middle reaches of the Yangtze River, regional coal market consumption and emergency peak power shaving functions.
In the future, it will be become a coal storage and transportation trading center with the highest levels of eco-friendly protection, automation and the largest storage and transportation volume along the Yangtze River.
The establishment of the company is seen as being of great significance in boosting the resilience of the Yangtze River Basin and ensuring the security of regional energy supplies.
In December last year, a coal storage and transportation trading center project signed up to settle in the Taizhou Medical High-tech Zone. It was the first coal storage and transportation trading center established by CHN Energy Investment Group's port subsidiary along the Yangtze River coastline.
Work gets underway at the Taizhou Port in Taizhou Medical High-tech Zone. [Photo/Taizhou Medical High-tech Zone via WeChat weigg6666]