Boustead inks deal to develop agricultural, commodities logistics networks in Guangdong
BOUSTEAD Projects - which designs industrial space for aerospace and logistics companies - on Monday said that it will work with a Guangdong-based firm to jointly develop agricultural and commodities logistics networks within Guangdong Province in China.
It signed a strategic framework agreement with Guangdong New Co-Operative Agricultural Products Wholesale Centre Investment Co Ltd, a business unit of Guangdong Provincial Supply & Marketing Co-Operative Society.
The framework will allow Boustead to look at joint acquisition of land, development and construction of logistics infrastructure and parks, and subsequent management or sale of completed projects. The investments will be done through special purpose vehicles (SPV). Guangdong New Co-Op will take a 42 per cent shareholding in each project SPV, with Boustead taking a 30 per cent shareholding and other private investors taking up the remainder.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Singapore shares climb at Friday’s open; STI up 0.2%
A timeline of DBS’ recent banking glitches
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Elite Commercial Reit’s Q1 DPU down 21.2% to £0.0067
Airbus called for compensation to take on money-losing Spirit operations: sources
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share