Yulin in Shaanxi will build the largest LNG industrial base in the Northwest

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ENGIE China signed joint venture and cooperation agreements with Shaanxi Houdete Tongxing Investment Co., Ltd. and Shaanxi JinKong Capital Management Company in Yulin City. On November 6, as French President Hollande concluded his visit to China, ENGIE China signed joint venture and cooperation agreements in Yulin City with Shaanxi Houdede Tongxing Investment Co., Ltd. and Shaanxi JinKong Capital Management Company. 　　Hu Zhiqiang, Secretary of the Yulin Municipal Party Committee; Wei Jundong, Mayor of Yulin; Qian Laodong, Executive Vice Mayor; as well as relevant leaders from the Jiaxian County Party Committee, the county government, and the Yujia Industrial Park Management Committee, together with An Lan, Director of the Beijing Branch of the French Chamber of Commerce and Industry; Gu Rumeng, Chief Executive Officer and President of ENGIE China; Chang Yingwei, Chairman of Shaanxi Houdede Tongxing Investment Co., Ltd.; Yang Shuanglin, Independent Director and Chairman of Shaanxi Damei Art Culture Industry Group Co., Ltd.; and Li Zhendong, Executive Deputy General Manager of Shaanxi Financial Holding Group Co., Ltd., held a discussion and jointly attended a signing ceremony. 　　 Under the agreement, ENGIE China will form a joint venture with Houde Tongxing Investment Co., Ltd. to build the largest LNG (liquefied natural gas) industrial complex in the Northwest region in the Yujia Industrial Park of Yulin City. The investment for the first phase of this project amounts to 1.4 billion yuan. At the same time, Shaanxi JinKong Capital Management Company will initiate the establishment of an overseas special energy M&A fund and a clean energy industry development fund worth 300 million dollars, to support Houdede Tongxing Company in acquiring target companies abroad and completing the M&A and integration of projects across the upstream and downstream stages of the industry. 　　 The partner in this collaboration, Shaanxi Houdede Tongxing Investment Co., Ltd., is an outstanding private enterprise based in the Yulin region of Shaanxi Province that has been active in the natural gas industry for a long time. ENGIE is the largest energy group in France, ranking 44th on the 2014 Fortune Global 500 list, and it possesses strong capabilities in the fields of electricity, natural gas, and energy services worldwide. Shaanxi Jinkong Capital Management Enterprise is a professional institution under the Shaanxi Financial Holding Group, responsible for establishing and managing industrial funds. By working together, these three capable organizations will make full use of their respective advantages in terms of resources, technology, and capital to jointly promote the development of the clean energy industry in Shaanxi region. This collaboration will also serve as an important model for the restructuring and transformation of energy enterprises in Yulin and throughout Shaanxi. (Excerpt from International Gas Network)