Joint venture between Young Investment Group Industry Company Limited, China Gezhouba Group Cement Co., Ltd, and China Gezhouba Group Overseas Investment Co., Ltd to develop a limestone mine and a cement factory
A&G News 6 July 2020
Allen & Gledhill advised Young Investment Group Industry Company Limited (“YIG”), as transaction counsel, on its joint venture agreement with China Gezhouba Group Cement Co., Ltd and China Gezhouba Group Overseas Investment Co., Ltd (collectively, “GZB”) to develop a limestone mine and a cement factory in Mandalay, Myanmar.
YIG and GZB hold 30% and 70% respectively in the joint venture company (“JVCo”).
The JVCo will be one of the largest cement producers in Myanmar. Its full production capacity will reach 5,000 tonnes per day once the operation commences. This is also the first cement factory invested by Gezhouba Group, a China Shanghai Stock Exchange listed company, in the South-east Asia region and its second overseas cement project.
Advising YIG were Director Oh Hsiu-Hau and Principal Chen Xi from the Myanmar office of Allen & Gledhill.