\n<\/p>\n
Plans to Acquire 51% Equity Interest in
\nShandong Pan-Asia <\/b><\/p>\n
To Invest in State Key Projects – Yantai Xigang
\nLNG Projects<\/b><\/p>\n
\u00a0<\/b><\/p>\n
Enters into Potential Financing Agreement with
\nBeijing Qinglu Zhongbing<\/b><\/p>\n
\u00a0<\/p>\n
HONG
\u00a0<\/p>\n The Framework Agreement about the Yantai Xigang LNG Project is the
\u00a0<\/p>\n According to the Framework Agreement, the Group proposes to acquire
\u00a0<\/p>\n Furthermore, in order to broaden the channels
\u00a0<\/p>\n Mr. Cheung Yip-sang, the Chief Executive
Plans to Acquire 51% Equity Interest in
Shandong Pan-Asia To Invest in State Key Projects – Yantai Xigang
LNG Projects \u00a0 Enters into Potential Financing Agreement with
Beijing Qinglu Zhongbing \u00a0 HONG
KONG SAR –\u00a0Media OutReach\u00a0–\u00a012 October 2021 –\u00a0China
Oil Gangran Energy Group Holdings Limited (“China Oil Gangran” or
the “Company”, together with its subsidiaries, …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18076"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18076"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18076\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nKONG SAR –\u00a0Media OutReach<\/a>\u00a0–\u00a012 October 2021 –\u00a0<\/b>China
\nOil Gangran Energy Group Holdings Limited<\/b> (“China Oil Gangran” or
\nthe “Company”, together with its subsidiaries, the “Group”, SEHK stock code:
\n8132), which has received shareholder approval to be renamed “Century Energy International Holdings
\nLimited”<\/b>, announces two strategic cooperation agreements in relation to
\nbusiness development and financing arrangement. With respect to business
\ndevelopment, on 10 October 2021, the Group entered into a non-legally binding
\nstrategic cooperation framework agreement (the “Framework Agreement”) with Yantai
\nYindu Industry Co., Ltd<\/b>. (“Yantai Yindu”) and Shandong Pan-Asia
\nInternational Energy Distribution Center Co., Ltd. <\/b>(“Shandong Pan-Asia”)
\nwhich will result in the acquisition of a 51% equity interest in Shandong
\nPan-Asia. Through this agreement, the Group will be able to invest in Yantai
\nXigang liquefied natural gas (“LNG”) receiving terminal and gas pipelines
\nprojects. Subsequently on 11 October 2021, the Group entered into a non-legally
\nbinding strategic cooperation agreement (the “Cooperation Agreement”) with Beijing Qinglu <\/b>Zhongbing Asset Management Co.,
\nLtd<\/b> (“Beijing Qinglu Zhongbing”), under which the two parties may establish
\nfunds or joint venture companies to provide funding, if needed, to support the
\nGroup’s future business development needs.<\/p>\n
\nfirst major project the Group has pursued in the field of energy and
\nenvironment following its appointment of a new management team comprising
\nindustry heavyweights, marking an important step on the path of business
\ntransformation.<\/p>\n
\nfrom Yantai Yindu a 51% equity interest in Shandong Pan-Asia, through which the
\nGroup will invest in the Yantai Xigang LNG receiving terminal and the LNG gas
\npipelines projects, as well as obtaining the access rights and operation and
\nmanagement rights of both projects. After the completion of the acquisition,
\nthe Group plans to develop and operate LNG import and trading business
\ndomestically and internationally where appropriate, and downstream sales and
\nmarketing of LNG in China through Shandong Pan-Asia or its subsidiaries. <\/p>\n
\nof financing and further reduce financing costs, the Group has entered into a
\nCooperation Agreement with Beijing Qinglu Zhongbing, under which the two
\nparties may establish funds or joint venture companies to source funding in
\nsupport of the business development and investment projects of the Group.
\nBeijing Qinglu Zhongbing may further develop and expand its business by
\nleveraging its expertise in the financial services business and business
\nconnections, to assist the potential acquisitions and resources integration of
\nthe Group. Beijing Qinglu
\nZhongbing was established in the PRC in 2017. It obtained the qualification of private equity investment fund manager as approved by
\nthe Asset Management Association of China in the same year.<\/p>\n
\nOfficer of the Group <\/b>said, “We are pleased to announce the two
\nstrategic cooperation agreements which mark a major step in our business
\ndevelopment and financing. It is with much excitement that we will be able to
\ninvest in the construction and operation of Yantai Xigang LNG terminal, a State
\nkey project, to capture opportunities from the “Belt and Road” initiative
\nand the National 14th Five-Year energy strategic plan. The funding arrangement
\nwe have entered into with Beijing Qinglu will provide us access to new investors
\nand lower cost of capital when the need arises.\u00a0
\nThese two major strides are expected to benefit our business development
\nand accelerate our business transformation.”<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"