On November 28th, president of CMEC Zhang Chun signed the letter of intent for joint venture,reaching an agreement on CMEC joining Xuzhou Coal Mining Group’s holding company Jiangsu Pangwo Power Engineering Co.,Ltd.(hereinafter referred to as Pangwo Power), and carried out in-depth discussion on cooperation mode, the proportion of shares etc.. President assistant&general manager of Complete Plants Management Department Li Baolin and others also attended the signing ceremony.
General Manager of Xuzhou Coal Mining Group Sun Hai extended warm welcome to the team led by President Zhang Chun, he said, Pangwo Power, a professional O&M company which is jointly founded by Jiangsu Energy Investment Co. Ltd., Jiangsu Province Energy International Co., Ltd. and Shenzhen Desun Industry Co., Ltd., relying on the power plant resource of its shareholders as technology and talent base, has formed a complete set of professional O&M service system for the past few years. The joining of CMEC’s shares into Pangwo Power will bring strong energy for business development and industrial chain extension of both sides. As a shareholder, Xuzhou Coal Mining Group will earnestly fulfill its commitments, tries its best to provide good resource support for Pangwo Power, and he also hopes that Pangwo Power would take this cooperation as an opportunity to create more wealth for its shareholders.
President Zhang Chun, introduces the development history and state of operation, and he also mentioned that, becoming a shareholder of Jiangsu Pangwo has a great positive meaning for CMEC to realize main business industry chain extension, and development of construction&operation integration project mode of overseas investment. The signing of the letter of intent for joint venture is a major event in the development of bilateral cooperation.
CMEC and Xuzhou Coal Mining Group have a long history of cooperation in their development, and they have the same philosophy. He believed that, through the joint efforts of both sides, they will form a new mode of mutual benefit and win-win development.