The new JV Jusda Energy Technology Shanghai is 51% owned by Foxconn’s unit Jusda Supply Chain Management International which invested RMB 102 million and is 39% owned by IDG Energy. The remaining 10% stake has been taken up by the new JV’s management.All three parties hold a pre-emptive right to further invest into the venture with the total final investment not exceeding RMB 500 million.It will help customers obtain LNG resources in North American and Asia Pacific via IDG’s network, while, Jusda, which is Foxconn’s logistics chain management network will take on the role of distributing these resources through its transport network.
LNG Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
