Rosan Resources, Bohai Shipbuilding and WnD Fushun form LNG JV

Rosan Resources entered into the JV Agreement with Bohai Shipbuilding and WnD Fushun to establish the JV manufacture company and the JV sales company.

The JV parties intend, through the JV companies, to cooperate in the businesses of the manufacture and sales of liquefied natural gas (LNG) tank containers and development and sales of natural gas and clean energy.

The maximum registered capital of the JV manufacture company will be RMB 100,000,000, out of which Bohai Shipbuilding will contribute 40%, WnD Fushun will contribute 33% and Rosan Resources will contribute 27%.

The maximum registered capital of JV sales company will be RMB 10,000,000, out of which Bohai Shipbuilding and WnD Fushun will jointly contribute 49% and Rosan Resources will contribute 51%.

Upon completion of establishment of the JV sales company, Rosan Resources will indirectly hold 51% equity interest of the JV sales company and Bohai Shipbuilding and WnD Fushun will jointly hold 49% equity interest.

Upon completion of establishment of the JV manufacture company, Bohai Shipbuilding and WnD Fushun will hold 40% and 33% equity interest.

The JV manufacture company and the JV sales company will enter into an exclusive sales agreement  where the JV manufacture company will exclusively sell and the JV sales company will exclusively purchase LNG tank containers.

Press Release, September 11, 2014; Image: Bohai Shipbuilding