The Caofeidian Coal Wharf Project Company and the Caofeidian Port Company Ltd under the State Development & Investment Corp held a joint-venture signing ceremony recently, according to which both sides will invest in building the Caifeidian port into an important wharf for shipping the coal produced in the north of China to the south of China and the imports of iron ore and crude oil for the areas of north China, reported Fei Weiwei, a reporter with the People's Daily on April 27 in Beijing.

This project shareholder is the State Development & Investment Corp, the only national fund-contributing representative for the management of the central ports in the country. It has 173 coastal ports including the Yangpu Port, Jingtang Port, Longkou Port, Zhenjianggang Harbor and Ningbo Harbor as well as inland river port resources.

Located in Luannan county, Tangshan of Hebei province Canfeidian lies between Xingang of Tanggu and Qinhuangdao harbour. Caifeidian has a 36-meter-deep water trough before it, the deepest point of the Bohai Sea. The natural sea trench leads directly to the Bohai Straits with enough room for the anchorage of 250,000-ton ship here. The recent construction scale of the coal quay will reach about 50 million tons with its long-term construction scale reaching up to 100 million tons. The final scale will be 200 million tons, exceeding the Qinhuangdao harbour.