Shanghai: Shanghai Lonyer Fuels announced today that it plans to set up a joint venture with GreenCooper (Shanghai) Investment Management Company in the new pilot Free Trade Zone (FTZ) in Shanghai.
The jv – Lonyer GreenCooper Trading Company – will be registered with RMB50m. Lonyer Fuels and GreenCooper will invest RMB30m and RMB20m to acquire 60% and 40% equity respectively. The company will be dedicated to importing oil products from Southeast Asia and iron ore from South America and Africa. [19/11/13]
