Zhidao International (HKG:1220) agreed to form a joint venture with Belt and Road EPC for cooperation on certain engineering, procurement, and construction in Indonesia, a Thursday filing with the Hong Kong Exchange said.
The parties intend to cooperate regarding the EPC works for a road and port terminal development project and other possible potential toll road construction projects in Indonesia.
The joint venture is expected to be held 80% by Belt and Road EPC and 20% by the company.
The construction and engineering services company's shares were up 8% on Thursday's close.
Price (HKD): $0.05, Change: $+0.0040, Percent Change: +8.00%
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