OREANDA-NEWS. September 15, 2011. It is reported that Zhuhai Port wholly controlled subsidiary, Zhuhai Port Power Energy Limited plans to set up a joint venture with a subsidiary of China National Offshore Oil Corp to develop combined heat and power generation in Zhuhai city. Zhuhai Port Energy anticipates it will invest CNY 185 million into the project.

The two parties will together invest in two 390 megawatts turbines, expected to cost a total of CNY 3.1 billion in its first phase of project. The joint venture has registered capital of CNY 740 million and Zhuhai Port Power Energy will hold a 25% stake in it.

The source said the JV is pending approval of relevant authorities. If given the green light and the project will be operational by 2013.

Zhuhai Port Energy is planning another joint venture with Guangzhou Development Coal Investment Limited, IMC Coal Logistics, China Resources Coal Investment Limited and Shanxi Coal Imports and Exports for a port storage projects. Zhuhai Port will contribute CNY 50 million for a 40% interest in the proposed joint venture.

The new entity will be called Zhuhai Dahai Port Services Co Ltd and will be involved in researching the feasibility of large-scale, dry bulk goods storage projects.