group news
hongkonghydoo entered into the liuzhou project development cooperation agreement with liujiang government on 16 january 2015, pursuant to which, hongkonghydoo has, in principle, agreed to undertake the construction and development of a large-scale integrated trade center and logistics project in liujiang town, liuzhou city, guangxi zhuang autonomous region, the prc (the “liuzhou project”) with an estimated total site area of approximately 1.2 million sq.m.. (the “liuzhou land”).
the company, through one or more of its subsidiaries, will bid for the liuzhou land, when such land is put up for tender, auction and listing-for-sale process (the “tal process”) by liujiang government, which is anticipated to be rolled out in phases. the estimated total site area of the first phase of the liuzhou land for the tal process is approximately 400,000 sq.m..if the company is successful in its bid for the liuzhou land in each phase, the liuzhou project will accordingly be developed in phases.
the company considers that the development of integrated trade centers and logistic project in liuzhou city is a strategic move, which is consistent with as well as contributes to the development of the company and therefore is in the interest of the company and its shareholders as a whole.
liujiang county is located in the middle of guangxi province, which is accessible by xiang-gui railway, qian-gui railway, zhi-liu railway, national road 332 and national road, has exceptional geographical and transportation advantages. liujiang county is a county of liuzhou city, 10 kilometers to the downtown, surrounds liuzhou on three sides, almost has the some energy, transportation and communication conditionswith liuzhou.
