SPICYD and China Coal Xi'an Design Engineering Co., Ltd. establish a joint venture company
SPICYD and China Coal Xi'an Design Engineering Co., Ltd. jointly established a joint venture company, China Coal Southwest Environmental Technology Co., Ltd., with an initial registered capital of 5 million yuan, which can be increased to 120 million yuan later. SPICYD holds 49% of the shares, contributing 58.88 million yuan; China Coal Xi'an holds 51% of the shares, contributing 61.2 million yuan. The joint venture company will focus on flue gas treatment and water service concession businesses of China Coal Group and plans to expand into other related businesses
According to the Zhitong Finance APP, Far East Horizon (600292.SH) announced that the company has jointly established China Coal Southwest Environmental Technology Co., Ltd. with China Coal Xi'an Design Engineering Co., Ltd. The initial registered capital of the joint venture is 5 million yuan, which will be increased to 120 million yuan based on the progress of project investment. The company's shareholding ratio is 49%, with an investment amount of 58.88 million yuan and an initial contribution of 2.45 million yuan. China Coal Xi'an holds a 51% shareholding ratio, with an investment amount of 61.2 million yuan and an initial contribution of 2.55 million yuan.
The joint venture focuses on expanding China Coal Group's flue gas treatment and water service concession business for coal-fired power plants. In the future, both parties will leverage their advantages to expand related businesses outside of China Coal Group; based on the development status of the joint venture, other businesses beneficial to the development of the joint venture may be carried out with mutual consent
