NaaS, Chancheng City Construction to establish RMB 1B construction joint venture

NaaS and Foshan Chancheng City Construction Group signed a strategic cooperation agreement at NaaS‘ headquarters in Anji, Zhejiang. The two parties will establish a joint venture with a planned investment of RMB 1B, focusing on new energy infrastructure investment management, in an effort to promote the construction and development of new energy infrastructure. The strategic cooperation agreement was signed by Sun Weilin, co-founder and CEO of NewLink, and Xu Jianxi, secretary of the party committee and chairman of Chancheng City Construction Group. Witnessing the signature ceremony were Chen Xinwen, director of Foshan Investment Promotion Bureau, Yu Xiang, VP of NaaS, Wu Yutao, Member of the party committee and deputy general Manager of Chancheng City Construction Group. Under the agreement, NaaS and Chancheng City Construction Group will establish a joint venture in Chancheng District, Foshan City, with a planned investment of RMB 1B. The joint venture will engage in various businesses including new energy infrastructure investment management, infrastructure operation and maintenance services, and charging safety testing.