Alsthom in US$50m coal deal
Alsthom, the Anglo-French engineering group, has signed a deal worth US$50 million to supply coal-handling facilities to Tianjin port. The complex will have an initial capacity of 10 million tonnes a year, which could be doubled if Chinese authorities decide to proceed with phase two.
Equipment will be manufactured in Britain at Alsthom's plant in Leicester and the first phase of the project will start operation in 2000. The project is being financed by HSBC Investment Bank.