SGX Stock Picks: Sembcorp Industries has reported the framing of a joint endeavor (JV) with Chongqing Energy Investment Group's backup to put resources into a mine-mouth 1,620-megawatt coal-let go power venture in Chongqing region.
The gathering has infused value, adding up to around Rmb925 million (roughly $202 million). The gathering's entirely possessed auxiliary, Sembcorp (China) Holding, now holds 49 percent stake in the joint endeavor, ChongQing SongZao Sembcorp Electric Power. Chongqing Songzao Coal and Power LLC, a backup of Chongqing Energy Investment Group, holds the remaining stake. Possessed by the Chongqing Municipal Government, Chongqing Energy Investment Group is the biggest vitality generation and supply gather in Chongqing.
The gathering has infused value, adding up to around Rmb925 million (roughly $202 million). The gathering's entirely possessed auxiliary, Sembcorp (China) Holding, now holds 49 percent stake in the joint endeavor, ChongQing SongZao Sembcorp Electric Power. Chongqing Songzao Coal and Power LLC, a backup of Chongqing Energy Investment Group, holds the remaining stake. Possessed by the Chongqing Municipal Government, Chongqing Energy Investment Group is the biggest vitality generation and supply gather in Chongqing.
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