Gelonghui, May 20, 丨 Binhai Investment (02886.HK) announced that the joint venture Qinhuangdao Taixing Natural Gas Co., Ltd. (“Taixing Company”), in which the company indirectly holds 45% of the shares through Binhai Investment (Tianjin) Co., Ltd., has obtained a project to supply natural gas to Qinhuangdao North Glass Co., Ltd. (“North Glass”) (“Qinhuangdao North Glass Project”).
Beifang Glass is a wholly-owned subsidiary of Kaisheng Xinneng (600876.SH/01108.HK) and is developing the photovoltaic glass industry in North China and Northeast China. A 1,200-ton one-kiln five-line ultra-white rolled photovoltaic aluminosilicate glass production line with a daily output of 1,200 tons will be put into operation and operation in mid-late 2024. The maximum gas consumption is expected to be about 7.8 million cubic meters per month.
The company believes that the Qinhuangdao North Glass Project will continue to enrich Taixing's high-quality industrial customer base and continuously increase Taixing's operating profit by leveraging the Qinshen Line of the national pipeline network and its own pipeline network. With the continued good development of Taixing Company, the Group will also obtain stable investment returns. In addition, the Group will also further assist Taixing Company in developing the terminal gas market through integrated gas source scheduling for natural gas resource pools in North China.