On December 1, 2017, Beijing Zhongkun Julin Group (referred to as "the Chinese side") and the post-Baikal Development Group Co., Ltd. ("Russian") jointly established a joint venture company in Chita City, " post-Baikal Coal Chemical Co., Ltd." The project is located at the junction of the post-Baikal Ergun area and the Chinese border. The total investment of the project is estimated to be 23 billion yuan, with a total area of about 87.7 square kilometers and a total coal reserve of about 550 million tons.
The first general meeting of shareholders was held on the day of the establishment of the joint venture company and set the goal for 2018. On the same day, the first board of directors was also held as scheduled, and the 2018 work plan was arranged.
At the meeting, Alexander, the general manager of the post-Baikal Development Group, spoke and conveyed the policy support of the government of the Russian Federation and the post-Baikal Territory to the project and the importance of the launch of the project to boost the regional economy. Kou Zhongchang, Chairman of Zhongkun Julin (Beijing) Technology Group, spoke at the meeting. The implementation of this project not only responded to the strategic call of China's “Belt and Road”, but also coincided with the strategic planning of the group company. At the meeting, Chairman Kou Zhongchang also pointed out the future development direction and prospects of the project.
The project is one of the Sino-Russian joint venture projects of Zhongkun Julin Group, which is actively responding to the national “Belt and Road” call, actively expanding the Far East market, and pushing the strategic planning of the Sino-Russian energy industry chain. At the Harbin Fair on June 16, 2017, the chairman of the group, Kou Zhongchang, and the Minister of Foreign Economic Relations of the Russian Post-Baikal Territory and the Deputy Governor of the Post-Baikal Territory Government signed a letter of intent on coal processing and trade on the Sino-Russian border.
On October 10 of the same year, Alexander, the general manager of the post-Baikal Development Group, and technical adviser Sergei, Demitri, deputy dean of the post-Baikal Territorial Railway Transport Institute and chief engineer Mihaiil visited the group headquarters in Beijing. The two sides also conducted detailed consultations on existing coal resources, quality parameters, technology introduction and future markets. During the meeting, the two sides officially signed the "coal chemical cooperation contract."
The establishment of the joint venture company and the successful convening of the first board meeting have officially kicked off the Sino-Russian border coal chemical joint venture project. It also means that Zhongkun Julin Group has taken a milestone step toward internationalization.