CIMC Enric signs strategic cooperation agreement


CIMC Enric has recently entered into a strategic cooperation agreement with China LNG Group.

In addition, pursuant to the strategic cooperation agreement and the agreement for acquisition of LNG tank containers, the China LNG Group agreed to, through Gangzong Trade, a wholly-owned subsidiary of the China LNG Group, execute the agreement for acquisition of 275 LNG tank containers with CIMC Enric Holdings at a consideration of RMB 126.1m (approx $20m).

Furthermore, China LNG Group has agreed to purchase an additional 800 to 1,000 LNG tank containers from CIMC Enric by the end of this year at a preferential price. China LNG Group has also agreed to preferentially purchase equipment manufactured by CIMC Enric under the same market conditions in the procurement of cryogenic equipment, including but not limited to LNG tank containers, LNG refilling trucks, LNG Dewar flasks and other products.

As part of the deal, CIMC Enric will provide the China LNG Group with a full range of after-sales services, technical support and emergency support, in addition to the tank containers. It will even invest in the construction of vacuum facilities in the logistics distribution centre of the latter, according to the agreement.

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