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SouthGobi Resources Secures Investment for Logistics Park on Mongolia-China Border www.asiapacific.ca
SouthGobi Resources Ltd., a Vancouver-headquartered coal mining company, has entered into an investment agreement with Beijing De Rong Tai Investment Co., Ltd. (BDRT) in connection with the Company's development of the Ceke Port Eco-friendly Bonded Logistics Park project (Ceke Logistics Park). Pursuant to the Investment Agreement, BDRT has agreed to invest RMB 231 million in instalments by July 30, 2018, in return for a 30% interest in Inner Mongolia SouthGobi Energy Ltd. (IMSGE), while the Company will hold the remaining 70% interest in IMSGE. Proceeds from BDRT's equity investment will be used by IMGSE for the construction of the Ceke Logistics Park, which will be located in the Ceke Port on the Mongolia-China border, the only inland port where the coal products of the Company are imported from Mongolia to China.
Published Date:2017-10-11
