Ruichang International Holdings (HKG:1334) subsidiary, Ruicheng Huangshan Engineering (Huangshan), agreed to form a joint venture with two partners.
The joint venture's main focus would be deploying phosphorus pollution control, phosphorus-containing waste treatment technologies, and recycling relevant waste products.
A Monday bourse filing said Shanghai Lanrui Environmental Protection Energy Technology and Huangshan Ecological and Environmental Protection Group are the other parties involved.
With a registered capital of 45 million yuan and a total commitment of 150 million yuan, the JV will be owned 80% by Ruicheng Huangshan and 20% by the other two parties.
The petrochemical equipment manufacturer said the JV aims to enhance local ecological environment protection standards in Huangshan City, China.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.