On September 1, the consortium of Shanghai Zhenhua Heavy Industry Co., Ltd. (ZPMC) and CCCC Tianjin Dredging Co., Ltd., a subsidiary of China Communications Construction Company (CCCC) won the bid for the land reclamation PPP project in Lyusi port zone, Qidong, Jiangsu Province.
ZPMC will be in charge of project investment and financing. The project will have an estimated investment of some 2 billion yuan (around US$313 million).
The project is located between Dayang Port and Lyusi Datang Power Plant. The west basin is a bulk cargo logistics zone, the east basin is an equipment manufacturing zone and the south basin is a reserved basin, which will be connected to the inland river. After the project is completed, the land area will reach 25 square kilometers, the coastline will be extended by 21.5 kilometers and 70 to 80 10,000t+ berths will be arranged, including 55 50,000t-100,000t deepwater berths.
The project is ZPMC's first PPP project as well as a beneficial attempt of ZPMC to renovate its investment and financing mode, promote the integration of industries and finance, and give play to the role of investment in driving transformation and upgrading.
Lyusi port zone is a general port zone mainly engaged in the transport of bulk cargo such as raw materials, coal, petroleum and liquid chemicals and the transport of containers. It primarily serves harbor industry development. After its completion, the project will play a significant role in building Lyusi port zone into an energy storage and transport center in the Yangtze River Delta, promoting the construction of Shanghai into an international shipping center, and advancing the national strategies of "One Belt and One Road" and Yangtze River Belt.