Khot Infrastructure Holdings Announces the Execution of a 75/25 Percent Consortium Joint Venture Agreement With SEPCOIII to Pursue Road Projects in Mongolia
November 18, 2015
ULAANBAATAR, MONGOLIA — Khot Infrastructure Holdings, Ltd. (Canadian Securities Exchange: KOT) (“Khot Infrastructure”) is pleased to announce that it has entered into a Consortium Agreement with Shandong Electric Power Construction Corporation III (“SEPCOIII”), a Chinese State-Owned Enterprise.
SEPCOIII, a subsidiary of PowerChina, is a world leading Engineering, Procurement, and Construction (“EPC”) company. James Passin, Chairman of Khot Infrastructure, signed on behalf of Khot Infrastructure; Mike Chen, President of SEPCOIII Investment, signed on behalf of SEPCOIII; and Ch. Orgilbold, CEO of Ashid Munkhiin Zam LLC (“AMZ”). Khot Infrastructure’s Mongolian subsidiary, signed on behalf of AMZ.
The terms of the Consortium Agreement allow for a 75/25 percent cost sharing and revenue sharing model between SEPCOIII and Ashid Munkhiin Zam LLC (“AMZ”) on road concession projects granted by the Mongolia government.
James Passin stated “We are excited to form a Consortium with SEPCOIII, an award winning, internationally recognized leading EPC. With the backing of SEPCOIII, we will move quickly to secure significant, profitable projects.”
Coordinating efforts with China’s larger New Silk Road Economic Belt project, Mongolia will participate in the international Economic Corridor linking resources and markets between Russia, China and Mongolia, as well as other Central Asian countries.
Our goal is to become a leading Mongolian infrastructure developer and the preferred choice for employees, shareholders and partners. Our focus is on high margin contracts, such as highways and regional roads. Our mission is to provide the infrastructure needed for one of the world’s fastest growing economies.
President and CEO
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Sabino Di Paola
Chief Financial Officer
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The CSE has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
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