TBEA to add capital to Tianchi Energy for railway construction in Guinea
2019-11-26 17:38:36 [Print]
Recently, TBEA issued a notice that its subsidiary, Xinjiang Tianchi Energy Co., Ltd. (Tianchi Energy), intends to set up a project company in Guinea and invest for the construction of the Trimere-Bofa Railway Project.
The railway is mainly used for the transportation of bauxite and other minerals. It is a multifunctional comprehensive railway serving the mining areas along the railway, surrounding mining areas and inhabitants.
The total investment for the railway is estimated at $769 million, of which 30% ($231 million) is the capital and Tianchi Energy's shareholding is not less than 51%. The capital shall be funded by Tianchi Energy firstly; when the funds are insufficient, TBEA would add capital to Tianchi Energy. The capital of other projects shall be settled by investors introduced by the project company in Guinea, but if there are no investors, all the capital would be invested by Tianchi Energy. Other funds other than the capital shall be provide by the project company in Guinea through loans or financial leasing.
The railway is mainly used for the transportation of bauxite and other minerals. It is a multifunctional comprehensive railway serving the mining areas along the railway, surrounding mining areas and inhabitants.
The total investment for the railway is estimated at $769 million, of which 30% ($231 million) is the capital and Tianchi Energy's shareholding is not less than 51%. The capital shall be funded by Tianchi Energy firstly; when the funds are insufficient, TBEA would add capital to Tianchi Energy. The capital of other projects shall be settled by investors introduced by the project company in Guinea, but if there are no investors, all the capital would be invested by Tianchi Energy. Other funds other than the capital shall be provide by the project company in Guinea through loans or financial leasing.
Bauxite 60%min, Al/Si 5.0, Ex-VAT Delivered China
Unit:RMB/mt
Africa bauxite producers' sales to production ratio statistics by country by month
Unit: %
