THE WALL STREET JOURNAL: Shell Forms $91M JV To Build Gas Pipeline In East China
Posted 12 May 2005
DOW JONES NEWSWIRES
BEIJING — Royal Dutch/Shell Group (RD) said Wednesday it has agreed to form a joint venture with Hangzhou Gas (Group) Co. to build a gas pipeline in Hangzhou, in coastal Zhejiang province, marking Shell ‘s first move into China’s gas-distribution market.
The joint venture will have a total investment of US$91 million and will build, operate and manage a 117-kilometer pipeline and two city gate stations, Shell said.
Hangzhou Gas will hold 51% of the joint venture, Shell 39% and Hong Kong & China Gas Co. (0003.HK) the remaining 10%.