Wuhu port, listed on the Shanghai Stock Exchange, announced on 18 August that it plans to sell Rmb170m-worth of A Shares to Huainan Coal Mine, the largest coal producer in Anhui province. After the private placement, the coal giant will become the largest shareholder in the port.

Earlier this summer, in May, the two parties signed a framework agreement to jointly develop Wuhu port as the largest coal centre along the Yangtze for storage and mixing. It will have an annual storage capacity of 500,000 tons and an annual transhipment capacity of the same amount.