Recently, the Shanghai Municipal Market Supervision and Administration issued a new joint venture between Jiande City Construction and Development Investment Co., Ltd. and Jiande Conch Cement Co., Ltd.
It is reported that De City Construction and Development Investment Co., Ltd. (Hereinafter referred to as "Jiande City Investment") and Jiande Conch Cement Co., Ltd. (Hereinafter referred to as "Jiande Conch") intend to jointly invest in the establishment of a joint venture in Jiande City, Zhejiang Province. The joint venture is mainly engaged in the production and sale of ready-mixed concrete. Upon the establishment of the Joint Venture, Jiande Chengtou holds 51% equity interest in the Joint Venture and Jiande Conch holds 49% equity interest in the Joint Venture. The two sides will jointly control the newly established joint venture.
Jiande City Investment: Jiande City Investment is mainly engaged in investment and consulting business, and is engaged in real estate development and operation business, new rural construction and other investment activities within the scope permitted by the qualification level. The ultimate controller of Jiande City Investment is Jiande State-owned Assets Investment Holding Group Co., Ltd., whose main business is the operation of state-owned assets within the scope authorized by the municipal government or the municipal SASAC, and the operation of assets entrusted by the municipal government and relevant departments.
Jiande Conch: Jiande Conch is mainly engaged in the manufacture and sale of cement and related products, and the mining of limestone, shale and sandstone for cement. The ultimate controller of Jiande Conch is Anhui Conch Cement Co., Ltd., which is mainly engaged in the open-pit mining of limestone for cement and sandstone for cement ingredients, as well as the production and sales of cement and auxiliary materials and cement products.
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