|Page (1) of 1 - 09/26/18||email article||print page|
IDG Energy Investment and JUSDA Form a Joint-Venture Company To Launch Independent LNG Logistics Business(September 26, 2018)
For Immediate Release September 25, 2018
IDG ENERGY INVESTMENT LIMITED
IDG Energy Investment and JUSDA Form a Joint-Venture Company
(September 25, 2018 - Hong Kong) IDG Energy Investment Limited ("IDG Energy Investment" or the "Company", stock code: 00650.HK;) is pleased to announce that the Company, through one of its wholly-owned subsidiaries, has entered into the Agreement for a Joint Venture (the "Agreement") to form Shanghai JUSDA Energy CO., LTD. ("JUSDA Energy" or "JV"), with JUSDA and the management team (the "Management"). Pursuant to the Agreement, all parties agree to invest up to RMB500 million into the JV, of which the Company, JUSDA, and the Management agree to contribute 39%, 51%, and 10% respectively. JUSDA Energy's first batch of LNG ISO Tanks have departed from Vancouver, Canada and will arrive in Shanghai in early October.
JUSDA Energy will enable customers to buy and transport LNG globally with a strong emphasis on independency, reliability and cost-effectiveness
China will have a strong need of distributing LNG using LNG ISO Containers
Also, compared to traditional LNG terminal import model, LNG ISO tank could utilize existing port infrastructure to import LNG and serve as a temporary storage to quickly react to market imbalance. JUSDA Energy believes LNG ISO tank is an important supplement to traditional LNG import model.
Mr. LIU Zhihai, President of IDG Energy Investment, commented: "The formation of the JV reflects our synergy with and support from Foxconn, the second largest shareholder of IDG Energy Investment. JUSDA, as Foxconn's sole supply chain enterprise, maintains a wide container transportation network and a strong bargaining position that will support JUSDA Energy's logistics services and help to reduce costs. Likewise, as a global high-quality energy investor and asset manager, IDG Energy Investment has an abundant network of gas sources across the North America and the Asia Pacific Region, which will help JUSDA Energy scale rapidly."
- End -
With strong shareholder support, mature investment strategies, sophisticated cross-border transaction capabilities, and in-depth knowledge of the global energy market, IDG Energy Investment has positioned itself to capture the industry momentum from China's energy structural reform and dynamic changes in the global natural gas market. The Company is committed to becoming the best cross-border energy assets investment manager in the region.
For further information, please refer to IDG Energy Investment's website:
JUSDA realized the end-to-end collaborative operation of smart logistic system platforms with the integration information network of big data analysis, cloud platform construction, and Internet of Things, JUSDA has built a smart supply chain real-time collaborative platform based on DT big data operation in the Industry 4.0 technology era.
With the outstanding global supply chain management experience, JUSDA has been certified with the national AAAAA integrated logistic enterprise qualification, AEO enterprise advanced certification, ISO9001, NVOCC, and World Cargo Alliance. JUSDA has become a significant business partner to more than 3,000 3C component manufacturers and customers around the world and serves more than 1,000 well-known brand customers.
For further information, please refer to JUSDA's website:
About the Management
This press release is issued by Financial PR (HK) Limited on behalf of IDG Energy Investment Limited. For further information, please contact:
IDG Energy Investment
Financial PR (HK) Limited
Document title: IDG Energy Investment and JUSDA Form a Joint-Venture Company To Launch Independent LNG Logistics Business