China's resource cyclic utilization enterprise GEM Co., Ltd. (002340.SZ) announced on Tuesday that it signed on Monday a strategic letter of intent with REMONDIS, one of the world's largest recycling, service and water companies, on cooperation in water resources governance and recycling utilization of renewable resources.
Under the agreement, the two companies will cooperate on recycling utilization of renewable resources in central China's Hubei province and likely set up a joint venture or sign contracts in line with project specifics to co-explore sewage and river comprehensive treatment markets in water resources-rich Hubei.
The letter of intent will be valid from November 3, 2015 to March 31, 2016. Signing the agreement will help the Chinese company integrate internationally advanced technologies and borrow a leaf from REMONDIS's rich experience and international platform to further improve its industrial chain and technologies in the recycling utilization of renewable resources, according to GEM.
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