Brief: Dongwu Cement International Enters Into Investment Framework Agreement With Various Parties

Dongwu Cement International

29/07/2022 10:56

July 29 (Reuters) - Dongwu Cement International Ltd
 0695.HK :
    * HAS ENTERED INTO INVESTMENT FRAMEWORK AGREEMENT AND
MEMORANDUM
OF COOPERATION WITH VARIOUS PARTIES
    * CO, BAOJI INDUSTRIAL, NEW SEA UNION AND YUANGU AUTOMOBILE
INTEND
TO ESTABLISH AND INVEST IN JV CO
    * REGISTERED CAPITAL OF JOINT VENTURE CO SHALL BE RMB600 MLN
    * AGGREGATE INVESTMENT SUM SHALL BE, BY INSTALMENTS, RMB3.0
BILLION
    * AGREEMENTS FOR PURPOSE OF DEVELOPMENT OF NEW ENERGY
COMMERCIAL
VEHICLES BUSINESS OF CO IN FUTURE
    * CO WILL CONTRIBUTE RMB120 MLN TO REGISTERED CAPITAL OF JV


Further company coverage:  0695.HK 

 ((Reuters.Briefs@thomsonreuters.com;))