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Jiangsu Baoli International Investment Co., Ltd.

Independent Oil Company controlled by Eduard Khudainatov and China’s largest bitumen producer Jiangsu Baoli agreed to set up a joint venture to build a bitumen plant. The resulting enterprise will be controlled by the Independent Oil Company relying on Khabarovsk Oil Refinery as its supplier.

Independent Oil Company and Jiangsu Baoli International Investment signed a cooperation agreement at the Eastern Economic Forum today, contemplating a joint venture to build a bitumen production plant, in which the Independent Oil Company will own 51%, with the remaining49% controlled by Baoli. The companies’ press statement indicates, that the plant with a projected capacity of up to 1m tonnes a year will produce various types of bitumen, polymer bitumen binders and bituminous products to be sold in the Russian Far East and China. Raw materials for the bitumen production will be supplied by the Khabarovsk Oil Refinery, which is part of the Independent Oil Company. The parties expect to agree on the charter and approve the business model for the project by year-end. The press statement notes that Baoli will “provide services related to plant engineering and the selection of the manufacturing technology, as well as its exclusive rights to patents, technologies and know-how involved in high quality bitumen production.” In addition, the Chinese company “will act to assist the joint venture in raising project financing to design, build and commission the plant.”

Jiangsu Baoli commands over 30% of the Chinese bituminous mixtures market, with its assets amounting to 2.36bn yuan (now $370m), and net assets of 1.63bn yuan (now $260m) at the end of 2014.

In spring 2014, a joint venture run by Baoli and Bitumina signed a memorandum on the construction of a bituminous mixtures and products plant with a total cost of some $50m in the Khabarovsk priority development area. The joint venture reckoned to produce 200,000-500,000 tonnes of bitumen targeting the demand from Far Eastern road construction projects and the Northern China construction industry.

03 September 2015
Kommersant
Investor
250.0 mln
Khabarovsk region

Investor profile

Jiangsu Baoli International Investment Co., Ltd.

China

Company's website: baolijt.cn

T: 0510-86017007

Public company

The world’s leading producer of modified bitumen materials, Jiangsu Baoli controls over 30% of the bituminous mixtures market in China, with its assets estimated at 2.36bn yuan (now $370m), and net assets at 1.63bn yuan (now $260m) at the end of 2014.

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