Total: agreement for joint venture in China
(CercleFinance.com) - Total announces that it has signed an agreement with the Chinese state-owned Zhejiang Energy Group (ZEG) to form a joint venture in the Zhoushan region, for the supply and supply of marine fuels.
Through this agreement, which has been reached following the agreement last April, Total China Investment (TCI) will hold 49% of the new joint venture's shares and Zhejiang Zheneng Petroleum New Energy (ZZPNE) will hold the remaining capital.
The Zhoushan region, the world's largest sea freight hub in terms of tonnage, includes the ports of Ningbo and Shanghai. The new joint venture aims to actively contribute to the development of this rapidly growing market.
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