Partnering Brightoil for the project are Zhoushan Port and Zhoushan Zhongao. The JV firm will be 60% owned by Brightoil, 35% owned by Zhoushan Port and 5% owned by Zhoushan Zhongao.
The JV project will see Brightoil build a wharf with six 3,000 deadweight tonnes (dwt) berths at the initial phase before deciding to build one 300,000 dwt, one 100,000 dwt berth and other berths to accommodate smaller vessels.
There are also plans to build ancillary facilities for the provision of logistics services such as loading, transshipment and distribution services for petroleum products.
The location for the project is a 112,000-square metre (m²) site on Men Ao Du, Cezi Island, Zhoushan City in Zhejiang Province in China’s central eastern coast.
Construction work is due to start in the first half of this year. The whole project is targeted to be completed within a year.
Zhoushan Port is a state-owned enterprise principally engaged in the investment and development of infrastructure such as ports, wharves, bridges and other transportation related industries.
Zhoushan Zhongao is mainly involved in the operation of integrated facilities for the storage and transportation of petroleum and chemical products in Liuheng Island, Zhoushan city.
