China Hainan Rubber Industry Group Co Ltd to Establish Sierra Leone-based Joint Venture

China Hainan Rubber Industry Group Co Ltd announced that it will establish a Sierra Leone-based joint venture, which will be engaged in the construction, operation and maintenence of natural rubber plantations and rubber processing plants, as well as rice cultivation, rice processing and trade, with a Jiangsu-based construction engineering company, a Hainan-based international economic corporation company and Sierra Leone government. The joint venture will be with a registered capital of USD 50 million, in which the Company will invest USD 30 million and hold a 60% stake, the Jiangsu-based company will invest USD 10 million and hold a 20% stake, the Hainan-based company will invest USD 5 million and hold a 10% stake and the Sierra Leone government will hold a 10% stake.