SteelOrbis Shanghai
The world's largest iron ore producer Brazil-based Vale has lately inked an agreement with Shandong Landbridge Group for the joint construction of an iron ore dock with a capacity of over 300,000 mt in Rizhao, Shandong Province. The two parties will set up a joint venture called "Rizhao Landbridge-Vale Port Co. Ltd" which will be responsible for the construction and operation of the project. With a total planned investment of $410 million, Landbridge Group will hold 75 percent stake of the joint venture, with Vale holding the remaining 25 percent.
Shandong Landbridge Group is a privately-owned enterprise with interests in petrochemicals, wood trading and processing, real estate development and port logistics. Its total registered capital is RMB 732 million, with total assets amounting to over RMB 3 billion. Previously, Shandong Landbridge Group invested AU$5.5 million to acquire an 11.6 percent stake in Australian-based Hannans Reward Ltd, a listed company engaged in iron ore mining.