Conch Cement announced that on September 8, 2023, the company (as a limited partner) entered into the Partnership Agreement with two general partners and five other limited partners to establish a partnership in the form of a limited partnership.
The announcement said that the partnership will be registered as a private equity investment fund in the form of a limited partnership. After its establishment, the Manager will cause the Partnership to register with the Asset Management Association of China before it commences its investment activities.
According to the Partnership Agreement, the total capital contribution of the Partnership is RMB 5 billion, of which the Company agrees to contribute RMB 1 billion as a limited partner. Jinshi Investment and CITIC Private Equity are the general partners of the Partnership, and Jinshi Investment is also the executive partner and manager of the Partnership. The Partnership will not be treated as a subsidiary of the Company and its financial results will not be consolidated into the accounts of the Company.
In order to actively respond to the national environmental protection policy and implement the concept of green and low-carbon development, China Cement Network will hold the "2023 Cement'Double Carbon 'Conference and the 10th China Cement Energy Conservation and Environmental Protection Technology Exchange Conference" in Zhengzhou, Henan Province, from September 12 to 13, 2023. The cement industry is moving towards a low-carbon, more energy-saving and greener high-quality development.
At the same time, the medal ceremony of "2023 Advanced Enterprises of Double Carbon in Cement Industry" and the "Double Carbon" Equipment Exhibition will be held. After the meeting, we will also organize a visit to Jiyuan Zhonglian Cement Co., Ltd. "The world's first production line of carbon sequestration auxiliary cementitious materials and low-carbon cement from flue gas CO2 of steel slag capture cement kiln".
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