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.”
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Dredging Today Staff, October 22, 2012