Xiangyu Dredging Holdings has introduced plan to set up a joint venture with a state-owned enterprise in Hunan to move on projects worth up to 2 billion yuan (HK$2.5 billion), reports thestandard.com.
The Jiangsu-based firm announced yesterday that it had signed a deal with Zhuzhou Cyclic Economy Investment and Development Co on Friday to incorporate the new enterprise in Hunan.
“The purpose of the JV is to secure projects of environmental management and construction of infrastructure to be carried out in the Qingshui Lake area,” Xiangyu revealed. “The projects are expected to last for five years, with a value of around 2 billion yuan.”
Dredging Today Staff, October 22, 2012
