for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Brazil's Vale enters JV to expand Chinese port - filing

SAO PAULO, Oct 9 (Reuters) - Brazilian miner Vale SA said its board has approved a joint venture of unit Vale International with China’s Zhoushan Port Company Ltd to build and operate Project West III in the port of Shulanghu, according a securities filing on Friday.

Vale said the port project expansion will demand multi-annual investments of about $624 million, adding it will have 50% of of the joint venture. Both partners plan to obtain financing for up to 65% of the project, the filing said. (Reporting by Ana Mano; Editing by Toby Chopra)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up