Wednesday, 30 December 2015

SGX Stocks News: Sembcorp Industries Made a Joint Venture With Chongqing Energy Investment Group's Subsidiary

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.

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