Geograce, NiHao in talks with Chinese firm for industrial park project

abs-cbnNEWS.com

 MANILA, Philipines - NiHao Mineral Resources International Inc. and Geograce Resources Philippines Inc. are currently in negotiations with China Shenzhen Intl. Cooperation Co. (CSICC) to develop an industrial park in the Philippines.

Geograce and CSICC are in advanced talks for the development of an integrated industrial park in the Philippines," Geograce said in a disclosure to the Philippine Stock Exchange.

The industrial park will be a joint venture between NiHao, CSICC and Geograce Resources Philippines Inc.

These negotiations may lead toward the execution of a definitive agreement next year, according to Geograce, a listed firm.

CSICC is a Chinese conglomerate with various business interests in conjunction with Chinese state overseas economic aid projects.

Geograce said CSICC has a $5 billion investment in Vietnam through its development of the Danang Economic and Trade Cooperation Zone.

Meanwhile, NiHao said it is also in talks with shareholders of Oriental Vision Mining Corp. for possible acquisition of a substantial stake in Oriental Vision or in several of its mineral properties. Read More...