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Aptus in two new Hunan piped-gas ventures
By AMY CHEUNG
Published: August 04, 2006 12:00 AM
Aptus Holdings will partner with PetroChina's parent in two piped-gas joint ventures in Hunan province for a total investment of 211 million yuan, The Standard reported. Aptus has agreed to invest 79.6 million yuan for a 33 percent stake in the Hunan joint venture, which will build the main gas pipeline from Changsha city to Changde city, said the company in a statement. In the second undertaking, Aptus will invest 131.7 million yuan for a 48.33 percent stake in a joint venture in Changde city, to build piped-gas networks and supply gas to residential and commercial customers. The pipelines being built by these two joint ventures are expected to be in service by the end of this year. The Changde joint venture reported a net profit of 811,000 yuan in 2005. As at May 31, its unaudited total net asset value was 81.83 million yuan, said the Standard. Aptus is a Growth Enterprise Market-listed provider of product commercialization services for pharmaceutical and health care companies.
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