Rizhao Port (SHA:600017), through unit Rizhao Port Container Development, will invest 226 million yuan to establish a joint venture with Chinalco (Xiong'an) Mining, a unit of Aluminum Corporation of China or Chinalco, according to a Tuesday disclosure on the Shanghai bourse.
The venture, Chinalco (Rizhao) Mineral Resources Development, will have a registered capital of 647 million yuan and will engage in ore beneficiation and mineral processing, as well as freight forwarding and warehousing.
The Chinese port operator will own 35% of the venture, while Chinalco Mining will hold 65% after contributing 421 million yuan into the venture's capital, the disclosure said.
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