PetroChina Xinjiang Marketing Company Limited, a subsidiary of PetroChina (PTR.NYSE; 00857.HK; 601857.SH) and Xinjiang Guanghui Clean Energy Technology Co., Ltd., a subsidiary of private-owned Guanghui Energy Co., Ltd. (600256.SH), would partner with Urumqi high-speed Rrailway hub develop, building and investment company to develop and operate gas stations, according to Guanghui Energy.
The three sides would establish a joint venture named as Urumqi Zhonghuishengye Clean Energy Co., Ltd. to develop refilling business of natural gas and product oil and operate convenience stores and car washing stores in core area of local high-speed railway station, according to a recent release by Guanghui Energy.
PetroChina Xinjiang Marketing Company, Xinjiang Guanghui Clean Energy Technology Co. and local high-speed Rrailway hub developer would hold 25 percent, 35 percent and 40 percent shares of the JV, respectively.
In July 2015, Xinjiang Guanghui LNG Development Co., Ltd., another subsidiary of Guanghui Energy, has inked cooperation agreements with PetroChina Xinjiang Marketing Company and PetroChina Gansu Jiuquan Marketing Company on natural gas refilling businesses.
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