China Dredging Environment Protection (HKG:0871) set up subsidiaries in Singapore and Kazakhstan to develop and expand its environmental protection and new energy digitalization activities, according to a Tuesday filing with the Hong Kong Exchange.
The company will use internal resources to fund the foray into the new businesses, the filing said.
China Dredging also signed a strategic cooperation with Shenzhen Zhongke Zhiqing New Energy Technology to help develop the oil well sector, the filing said.
Under the agreement, China Dredging will be in charge of service upgrades and maintenance support for low-efficiency shut-in wells in Kazakhstan with technical services coming from Shenzhen Zhongke, the filing said.
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