Zhonghe Electromechanical 55 million yuan to undertake overseas LED street lamp replacement projects

2013-11-23 10:59

Zhonghe Electromechanical announced on the 23rd that the company decided to invest 320 million yuan in energy-saving, environmental protection and clean energy projects overseas. The wholly-owned subsidiary Zhejiang Zhonghe Investment Co., Ltd. (hereinafter referred to as "Zhonghe Investment") and Zhejiang Net New United Engineering Co., Ltd. (hereinafter referred to as "Network New United") cooperated to undertake the project of replacing street lights with LED light sources publicly tendered by the Mexican city government.

According to reports, the construction period of the project is about 6 months. After the installation is completed, the lamps and lanterns will be supplied to the municipal government in the form of leasing, without any post-maintenance. At the same time, the company authorized Zhonghe Investment to invest RMB 55 million to jointly cooperate with Wangxin to set up an overseas company to invest and operate the Mexican LED street light replacement project in the form of 55% holding.

It is reported that Wangxin United has rich experience in market expansion in North and South America. In 2013, it has undertaken LED street lamp replacement projects in several cities in Chile. The project plans to initially undertake the replacement project of 120,000 LED street lights in Mexico, with an estimated total investment of about 320 million yuan.

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