China's resource cyclic utilization enterprise GEM Co., Ltd. (002340.SZ) announced on Friday that it signed a cooperation agreement with Government of Henan Lankao County to build a cyclic economy industrial park in Lankao, central China's Henan province.
Under the agreement, the GEM agreed to invest additional 500 million yuan to build a scraped car cyclic utilization and water tire project and took it as a basis to build a national cyclic economy industrial park in Lankao.
Meanwhile, the government of Lankao County will offer financial support to the company in a bid to reduce its financial costs during the construction period and enhance its profitability.
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