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November 16, 2020updated 09 Mar 2022 11:17am

Vale and Ningbo Zhoushan Port to invest $651m in iron-ore storage

Brazilian iron ore miner Vale and China's Ningbo Zhoushan Port have reportedly agreed on a deal to invest CNY4.3bn ($650.6m) in iron ore storage and processing facilities in the Chinese province of Zhejiang.

Brazilian iron ore miner Vale and China’s Ningbo Zhoushan Port have reportedly agreed on a deal to invest CNY4.3bn ($650.6m) in iron ore storage and processing facilities in the Chinese province of Zhejiang.

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The latest move follows the inauguration of Shulanghu Grinding Hub in August by the two companies at the port in eastern China.

The move further enhances Vale’s presence as one of the top global consumers of iron ore.

Vale and Ningbo Zhoushan Port will each hold 50% in the joint venture (JV), whose proposed creation was flagged in a filing in October.

According to the filing, Vale has partnered with Zhoushan Port Company to build and operate Project West III in the port of Shulanghu.

The JV will have a registered capital of CNY1.5bn, said Reuters.

Marking Vale’s Shulanghu grinding hub, the first in the country, is located in the Shulanghu Ore Transfer Terminal, in Zhoushan City, Zhejiang.

It comprises three production lines, which can produce three million tonnes per annum (Mtpa) of ore. The grinding hub generates a completely new product, known as GF88.

Zhejiang Free Trade Zone stated: “It is proposed to build an iron ore storage yard, with a maximum capacity of 4.1 million tonnes, an ore blending and processing facility and two shipping berths.”

The blending and processing facility is expected to have a capacity of 21Mtpa of ore.

Referring to the grinding hub site, the company’s statement added: “The construction of this project will further strengthen the distribution capacity of the Shulanghu ore transfer terminal.”

In September, Vale and NORCAT launched the NORCAT Open Innovation Challenge to seek out solutions to improve safety, efficiency and sustainability.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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