Huaneng Power International (SHA:600011, HKG:0902) announced that its 60%-owned Shantou Port Haimen Terminal Zone Huaneng Coal Transit Base Project was recently approved by the National Development and Reform Commission of the PRC.

The project proposes to transform and newly construct a 70,000 Dead Weight Tonnage (DWT) coal unloading berth each, newly construct a 50,000 DWT coal loading berth and a 3,000 DWT multi-purpose berth, with a planned annual throughput capacity of 22.7 million tons, including ship unloading capacity of 21.5 million tons and ship loading capacity of 1.2 million tons.

The total investment amount of the project is estimated to be approximately RMB2.442 billion, 30% of which is capital contribution to be funded by Huaneng Power International, China Power Investment Corporation and Shantou Port Group Corporation in proportion of 60%, 20% and 20%, respectively. The remaining investment is to be funded by bank loans.