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News of tie-up sends CEFC shares up

JV with Rizhao Port Group unit will build and run Rizhao port oil storage facilities

Published Thu, Jul 31, 2014 · 10:00 PM
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PETROCHEMICAL and fuel oil trader CEFC International's shares gained 0.5 cent, or 15 per cent, to 3.8 Singapore cents yesterday after it announced in the morning that it had tied up with a subsidiary of state-owned company Rizhao Port Group (RPG) to build and operate oil storage facilities in Rizhao port in China.

The joint venture (JV) between CEFC's wholly owned subsidiary Hong Kong CEFC Petrochemical and Energy Pte Ltd, and Rizh…

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