Wind Power Project at Siziwang Qi Region, Inner Mongolia
JIC, through a wholly-owned subsidiary has applied to the Siziwang Qi DRC for the rights to build and operate a 50 MW wind power project in the region. It intends to invest a total of approximately RMB480,550,000 (about HK$532,100,000) to build 33 1,500-kilowatt wind turbines with an aggregate generation capacity of approximately 49.5 MW. JIC targets to begin construction in the second half of 2008 and achieve full operation of the wind farm by the end of 2009.
Cellulosic Ethanol Project
On 17 April 2008, the Group through its wholly-owned subsidiary HKE (Biomass) Holdings Limited signed a technology transfer and co-operation agreement in respect to investment in a pilot cellulosic ethanol project using the Cellulosic Ethanol Technology ("the Technology") developed by GeneHarbor (Hong Kong) Technologies Limited ("GeneHarbor").
The Company will first acquire from GeneHarbor a 55% interest in the Technology utilizing HK$17,325,000 as its capital contribution. A new joint venture between the Company and GeneHarbor will be established and a pilot cellulosic ethanol plant will be built to demonstrate the feasibility of the technology and of the production process.
If successful, JIC will seek to commercialize the Technology throughout
Asia. Another technology service company ("TechServices Co") 90%-owned by
JIC and 10% by GeneHarbor will be set up. TechServices Co will be the sole
and exclusive agent to use and commercially exploit the Technology and to
sell and distribute related enzymes used in the production of cellulosic
ethanol in the Gr
|SOURCE JIC - to be renamed as Hong Kong Energy (Holdings Limited)|
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