Qilu Expressway (HKG:1576) agreed to form a joint venture company with Shandong Zhengchen Technology, a Thursday Hong Kong bourse filing said.
The company plans to invest in a wind power hybrid tower industrial base project with the fixed station planned to be set up at the Pingyin Smart Transportation Industrial Base of its subsidiary, Qilu Expressway (Shandong) Assembly, in China.
The company will be investing 51 million yuan in the capital of the JV company and will have a 51% shareholding in it. The remaining 49% stake will be held by Shandong Zhengchen Technology.
The shares of the company were up over 1% in recent trade.
Price (HKD): $2.33, Change: $+0.030, Percent Change: +1.30%
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