Zhidao International (Holdings) (HK:1220) has released an update.
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Zhidao International (Holdings) Limited has announced a framework agreement with Belt and Road EPC Limited Partnership Fund to form a joint venture for EPC projects in Indonesia, focusing on road and port terminal development. The joint venture is expected to be majority-owned by BRF at 80%, with Zhidao holding a 20% stake and providing technical support, while BRF will handle the financing. The agreement outlines the intentions and responsibilities of each party, but it remains non-binding until a formal agreement is signed.
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