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Editor in chief: Angelo Scorza
02/10/17 10:19

Augustea to diversify into transshipment, stepping in the “One belt one road” project

The shipowning group controlled by the Zagari family will convert a ship into a coal discharging terminal, thus commissioning two barges and three tugboats in China

Cape (Augustea)

Despite a great deal of scepticism, the “The new silk road” Chinese project continues growing, while  an Italian company will join China Pakistan Economic Corridor (CPEC).

Naples-based Augustea will develop and manage a new floating terminal in the Arabian Sea to handle coal loading/discharging operations serving two power plants to be set up in Pakistan.

In essence, the project, worth overall 2 billion dollars and aimed at filling in the Middle Eastern country's energy gap, was launched by China Power Hub Generation Company (Pvt.) Ltd, joint venture controlled by China Power International Holding Limited (backed by Chinese giant State Power Investment Corporation) also participated by Pakistan-based The Hub Power Company Limited (major energy provider in the country).

Should all deadlines be met, the new 1,320 MW power plants to be built in Baluchistan, powered by 4 million tons/year coal imported from Australia, Colombia, South America and Indonesia, will start operating by 2019.

Augustea diversified core dry-bulk-transport business “implementing what we've been developing in Barranquilla port, Colombia, where we are currently running coal loading terminals  which we previously designed for the dry bulk sector”, Managing Director Raffaele Zagari said.

The helm of Augustea group also illustrates that “a transhipper (Post-Panamax bulk carrier built at Chinese Yangzijiang yard in 2010) is being purchased to be subsequently turned into a floating terminal capable to handle 24,000 tons coal/day”.

The new infrastructure will be capable to discharge large Capesize or Panamax bulk carriers at anchor transhipping the coal from mother vessel to transhipper or to (12,000 tons) barges towed to the plant by tugboats.

“All ships required for this project will be provided by Augustea and built in China” concludes Zagari, while disclosing that the whole investment “is worth 70 million dollars and 300 million profit will come in 15 years. The project will be funded by a Chinese entity”.

Nicola Capuzzo

TAG : Bulker