Tianjin Port on Oct.23 announced that it with China Shenhua Energy will boost new capital of 630 million RMB at the same proportion to Shenhua Tianjin Coal Wharf Company, its stake in the property reaching 45%.

The announcement said that the aim of boosting capital is to expand production scale of Tianjin port, improving the functions and market competition. The newly increased capital will used to set up wholly-owned subsidiary of Shenhua (Tianjin) Port Company.

Tianjin Port said the newly construction of subsidiary company is able to satisfy the demand of the state energy development strategy, harbor construction and regional development, adapting the trend of large-size vessels, and enjoy preferential policies.

After the completion of phase II for Tianjin Shenhua coal wharf, the coal shipped from Tianjin Port will reach 80 million tons and the coal throughput capacity for Tianjin Port will be 100 million tons.

To solve the tense capacity for coal transportation in North China, in recent years, some large-scale coal enterprises have strengthened investment and cooperation with port construction coal wharf in North China.