Singapore: IMC Group has signed several agreements with its Chinese partners to develop a bulk terminal, a specially designed cargo delivery system and an inner river berth with stockpile facility.
IMC Industrial Port Development & Management Pte Ltd has entered into a joint venture with Jiangsu Xinsugang Investment & Development Co Ltd and Jiangsu Shagang Group to invest and operate two 300,000-tonne vessel berths at Lianyungang known as XSG-IMC Port. When fully operational in 2011, the bulk terminal, costing RMB3 billion, will be the largest of its kind in Jiangsu Province with an annual handling capacity of 42 million tonnes. This will allow Lianyungang to be served by large sea-going vessels such as the Very Large Ore Carriers (VLOCs). The three partners are also investing in a specially designed cargo delivery system involving a 9km conveyor belt through a mountain tunnel which directly connects the sea port to the inner river berth and inland stockpile.
IMC Lianyungang Logistics Pte Ltd will partner Jiangsu Xinsugang Investment & Development Co Ltd to develop the inner river berth and inland stockpile. The stockpile will enable blending and storage of bulk goods. From the inner river berth, bulk goods can be transferred onto 1,000-tonne barges and delivered by a canal system linked directly to the Yangtze River, thus facilitating the movement of bulk goods to the central parts of China. Bulk goods can also be transported by the Long Hai Railway linking eastern and western China. "This multi-modal transportation of iron ore and coal will accord greater efficiency and reduce costs, thus benefiting the steel mills and power plants in the inland parts of China," IMC said in a statement. [25/10/10]
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