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