Quoted
Tidfore has responsibility for the port construction and CCECC for the railway construction and assisting CAM Iron and Congo Iron SA and financial institutions to negotiate project loans and project financing
Extract from the announcement on 22 January 2018
Tidfore is a private Chinese company established under the laws of the Peoples Republic of China. Tidfore is involved in supplying, manufacturing and installing high-end material handling, port and offshore engineering equipment. Tidfore has signed a Joint Venture Framework Agreement (“JV”) with China Civil Engineering Construction Corporation (“CCECC”). CCECC is a subsidiary of the state-owned enterprise China Railway Construction Corporation (“CRCC”). The JV defines the principle rights and obligations of both parties. In particular, Tidfore has responsibility for the port construction and CCECC for the railway construction and assisting Cam Iron and Congo Iron S.A. (“Congo Iron” a Sundance subsidiary which holds the Nabeba permit in Congo) and financial institutions to negotiate project loans and project financing.
SDL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held