Yangkou Port

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The Jiangsu Yangtong Investment and Development Co. was established in November of 2003 to build and operate the Yangkou Port for a period of 50 years commencing October 28, 2004. The Yangkou Port is located in Rudong County of Jiangsu. It has a natural deep-water channel with a depth of 17 meters and was considered an ideal site for the 150,000-200,000 ton port. Portions of the port were expected to become operational in 2008. The original partners in the JV were Global Achiever, a 100% subsidary of Steady Forth Ltd., (60%), and state-owned Jiangsu Yangkou Port Investment and Development Co., which held the remainder. However, in April 2004, Paul Y.-INC Construction Holdings purchased a 90.1% stake in Global Achiever Ltd., giving it a 54.06% interest in Yangkou Port. The remaining 9.9% of Global Achiever's issued share capital continued to be held by Steady Forth Limited. The HK$520.8 million investment, through Paul Y-ITC's wholly owned unit, Century Harbour, was funded by existing cash and bank facilities. Paul Y-ITC, in turn, was a 55%-owned subsidary of the ITC Corporation, a Hong Kong-listed investment company. Jiangsu Yangtong Investment and Development Co.'s registered capital was US$30 million. Global Achiever was to contribute about US$18 million in cash and Jiangsu Yangkou Port Investment injected assets in the form of land and marine rights worth about US$12 million. http://eng.madeinchn.cn/thread-48-9560-1-1.htm Yangkou Port will construct a 200 thousand tons flexi-port and 100-200 thousand General bulk cargo terminal, reduce the transportation cost of importing iron. Special railway water-route integrative transportation System, the steel plant the Yangtze River. Near the Yangkou Port, a wind power park of 250 MW is constructing, a wind power of 600 MW and a gas fired power plant with a capacity of 2,400 MW will be construct. These power project will provide electric power reliably for this project. Feasibility research for this project is now in its process. Overseas companies will provide　technical supporting and the raw material for this project. None