Archive for the ‘BVI Company Joint Ventures’ Category

Origin Agritech entered into investment agreement to form a new JV

Friday, June 7th, 2019

Origin Agritech Ltd., an agriculture technology and rural e-commerce company registered in the British Virgin Islands, entered into a Cooperation Framework Agreement with Beijing Changping Technology Innodevelop Group (BC-TID), with the purpose to form a new joint venture which will be focused on the commercialization of genetically modified corn seed technologies.

According to this agreement, both companies will establish the new entity with approximately equal partnership. BC-TID will fund the joint venture with a total amount of RMB204mln, while Origin Agritech will contribute the Origin Life Science Center building in Beijing and two biotech corn traits – the glyphosate tolerance (Gt) trait and the double stacked traits of insect resistance (Bt) and Gt genes.

These two biotech traits have completed multi-year production tests, and the BVI corporation has already submitted the application for the final stage of biosafety approval to China’s Ministry of Agriculture.

Since Origin started its corn seed biotechnology research 15 years ago in cooperation with Chinese Academy of Agricultural Sciences, it has developed several corn seed biotech traits. Also, the BVI company has entered into commercialization agreements with multinational and local corn seed companies. Dr. Gengchen Han, Origin’s Chairman and Chief Executive Officer, stated: “The investment of BC-TID to form a joint venture for biotech corn seed commercialization gives us very strong support as we’re moving closer to the commercialization of our corn seed biotechnologies.”

BVI company entered into agreement with Port of Québec to develop new terminal

Thursday, May 30th, 2019

Hutchison Port Holdings Ltd., the world’s leading port network, and Canadian National Railway (CN), the leading North American transportation and supply chain company, signed a long term agreement with the Québec Port Authority (QPA) to build and operate the new container terminal project Laurentia, previously known as Beauport 2020.

With this agreement, BVI company’s global network will increase to 52 ports covering 27 countries, including the United Kingdom, Spain, Poland, Sweden, Germany, the Netherlands, Belgium and many others. The project, which is US$775mln worth, will be financed mainly through the joint investment of the three partners.

The QPA has chosen Hutchison Ports after a competitive process in which it invited leading international port operators to provide proposals for the project. The Hutchison Ports is supposed to build the most environmentally and technologically advanced cargo-handling facility in North America.

Group Managing Director of Hutchison Ports said in his comments: “We are pleased to partner with the Québec Port Authority and CN to develop the Québec container terminal. Québec City will become Hutchison Ports’ gateway to the East coast of North America. With its fully intermodal deep-water port, its strategic location to reach the Midwest market, and the strong support shown by the local authorities, the Québec project has all the attributes to be successful in this highly important market.”

Hutchison Ports signed Heads of Agreement with Malaysian company

Thursday, April 4th, 2019

Hutchison Port Holdings Limited, a private holding company registered in the British Virgin Islands and headquartered in Hong Kong, signed a Heads of Agreement with KA Petra Sdn Bhd, the company which a pioneer in the Ship-to-Ship transfer business in Malaysia. According to this agreement, the parties will become strategic partners to jointly develop the world’s largest Ship-to-Ship Transfer Hub in Malaysia – the flagship project of KA Petra.

According to the Heads of Agreement, the BVI holding takes 30% stake in KA Petra’s Ship-to-Ship Hub, while the Malaysian company will have 70% interest in the project. The construction of the Hub, which is to commence in the next 12 months and is estimated to cost US$150mln to US$180mln, will be funded both by internally integrated funds and debt financing.

During the signing ceremony Hutchison Ports was represented by Group Managing Director Mr. Eric Ip, and KA Petra was represented by its founder and Executive Chairman, Dato’ Shahrul Amirul. The ceremony was also formally witnessed by Prime Minister of Malaysia and Minister of Transport of Malaysia, with the presence of Minister of Economic Affairs and Minister of Domestic Trade and Consumer Affairs.

Mr. Eric Ip, Group Managing Director of Hutchison Ports said, “We are equally excited to be part of this significant project that will have such a positive impact on the marine sector in Malaysia, as well as in SE Asia. Given our global port network, we are confident of introducing the many benefits offered in this STS Hub to our global shipping lines customers. This would be one of our valued propositions as a strategic partner with KA Petra in undertaking the development of the world’s largest STS Hub in Malaysia.”

Origin Agritech announced establishment of two new joint ventures

Saturday, October 13th, 2018

Origin Agritech Ltd., BVI-incorporated and China-based agriculture technology and rural e-commerce company, announced the establishment of two new joint ventures – Anhui Aoyu Zhongye Technology Ltd., of which Origin holds 50% of equity, and Xuzhou Aoyu Agricultural Technology Ltd., of which the company holds 51%. Five agricultural product distributors are investing partners in each of these joint ventures.

These two joint ventures, as well as the Hubei Aoyu Agricultural Technology Limited, became the cornerstone of the Origin e-Commune Network, based on the e-commerce technologies and BVI company’s strong brand equity across rural China.