Kaishan Group's subsidiary signs SMGP minority equity acquisition agreement with SUPRACO
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Kaishan Group's wholly-owned subsidiary OTP Geothermal Pte., Ltd has signed an agreement with PT Supraco Indonesia to acquire all shares of the Indonesian geothermal company SMGP for USD 3 million. Upon completion of the transaction, OTP will hold 98.57% of SMGP, while KSO will hold 1.43%, achieving 100% control. At the same time, PT Kaishan Orka Indonesia has signed a joint venture agreement with Supraco and will sign a sales agency agreement with Zhejiang Kaishan Energy Equipment Co., Ltd in the future
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