Zhongneng International Intends to Purchase 65% of Mozambique Cement Plant

Zhongneng International announced that it has entered into a memorandum of understanding with China Hong Kong Construction Group, an independent third party, to acquire a 65% interest in a cement plant located in North Pemba City, Cabo Delgado Province, Mozambique. The group pointed out that the cement plant would be engaged in cement production with an annual cement production capacity of 300000 to 400000 tons, and would conduct due diligence and obtain an exclusive discussion period of 120 days. The Group pointed out that it was looking for opportunities to diversify its business and increase its revenue sources, and was optimistic about the prospects of Mozambique's cement production industry. The signing of the memorandum of understanding provided a good opportunity to spread its business to the industry and expand its future revenue base.