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First "Belt and Road" Infrastructure Fund of SBU of Finance Project Signed

Date:2018-04-02 Source:SBU of Finance

Recently, the "Belt and Road" Infrastructure Fund set up by Sinochem SBU of Finance harvested a first periodical result with a project signing, marking the first step in the international operation of its subsidiary Sinochem Capital Co., Ltd (Sinochem Capital). The fund aims to help Belt and Road countries’ governments and enterprises to cooperate on infrastructure in terms of investment and building.

On March 5, Sinochem Capital signed a trilateral memorandum of cooperation with the government of the Republic of Bosnia and Herzegovina and the Bosnia and Herzegovina Expressway Company, reaching consensus on such boundary conditions as cooperation model, franchise period and subject of payment for the 40km leg of the Pan-European Highway Corridor’s VC project within Bosnia and Herzegovina territory. Next, Sinochem Capital's overseas platform will be used as the main investor to set up funds overseas together with other investment institutions, and establish project companies in the form of equity investment in the Republic of Bosnia and Herzegovina to operate related highway projects.

In August 2017, Sinochem International Tendering Co., Ltd., (Sinochem Tendering) a subsidiary of Sinochem SBU of Finance, proposed the idea of establishing a “Belt and Road” Infrastructure Fund and succeeded with its first demonstration project in the Republic of Bosnia and Herzegovina in December 2017. Over recent years, Sinochem Tendering has vigorously promoted the innovation-driven development strategy and put forward the “Tendering+” innovative business model and operation philosophy. In the years ahead, the company will rely on engineering management and PPP business to promote domestic engineering contracting companies and equipment manufacturers to “go global” as an active response to the “Belt and Road” Initiative.