WISCO moves on Zhoushan Liangtan Island iron ore transfer terminal

July 31, 2008

July 31st (Steel Guru) – It is reported that Zhejiang Zhoushan Wugang Dock Corporation Limited was officially set up on the morning of July 28th in Hangzhou, Zhejiang, marking the Zhoushan Liangtan Island Iron Ore Transfer Terminal project has entered into the substantial operation term.

As per report, the new established company was built up jointly by Wuhan Iron & Steel Group Corp, Ninbo Port Group Limited and Zhejiang Herun Industry Group Co Ltd. The venture will invest a total of no more than CNY 2.4 billion in the large scaled iron ore transfer terminal which is projected to deal with 30 million tonnes of resources each year, including a 300,000 tonnes unloading berth, a 50,000 tonnes boat berth and two first tier stocking yards. It is expected that the first phase construction will be completed and put into service in the second half of 2009.

Mr Bai director with WISCO’s publicity department said that Chinese ports are appearing straitened upon increasing imported iron ore reflecting domestic high demand. WISCO hadn’t got its own transfer terminal yet before, as learned. It had to pay a higher transportation fee, with only the fine for overtime of anchoring hitting over CNY 100 million a year. Once the project is finished, the new port will help WISCO tackle its problem.

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