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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| China New Energy Limited | LSE:CNEL | London | Ordinary Share | JE00B3RWLF12 | ORD 0.025P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 7.50 | 7.00 | 15.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCNEL
RNS Number : 8542A
China New Energy Ltd
29 March 2017
29 March 2017
China New Energy Limited
("CNE" or "the Company")
Contract to Build an Ethanol Plant in Ghana
The Board of CNE (AIM:CNEL), the AIM quoted engineering and technology solutions provider to the bioenergy sector, is pleased to announce that it has won a number of contracts with Supercare Group Limited of Ghana and CNBM General Machinery Co., Ltd in China to construct a new ethanol plant in Ghana.
The contracts are in relation to the building of a cassava-to-ethanol plant in Ghana that will have a production capacity of 45 million litres of ethanol per annum. The ethanol will primarily be used by the food industry. The scope of the contract is to design and supply the ethanol processing equipment for the project and to work with a local EPC contractor to install the equipment and commission the plant.
The total value of the contracts to CNE are, in aggregate, approximately USD $12.5m that will be paid in accordance with agreed milestones. The project is scheduled to commence in May 2017 and the project is forecast to be commissioned in Q1 2018.
Mr Yu, Chairman of CNE commented, "We are delighted to win these contracts with Supercare Group, our first projects with them in Africa. The confirmed orders from COFCO and Supercare Group comprise a significant order book for 2017 and we anticipate being able to recognise much of that revenue this year. The board is very pleased that our decision to market our products and services to the African market is now paying dividends and we look forward to continued success".
The information contained within this announcement constitutes inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.
For further information, please visit www.chinanewenergy.co.uk or contact:
Hot Features
Premium
China New Energy Limited
Nick Brooks Tel: +44 7920 060218
nick.brooks@hotmail.co.uk
Richard Bennett Tel: +44 7966 388 374
rbennett@zkty.com.cn
Ivy Xu xuhj@zkty.com.cn
Tel: +86 20 8705 9371
Cairn Financial Advisers LLP (Nomad)
Jo Turner / Liam Murray Tel: +44 20 7213 0880
Daniel Stewart and Company (Broker)
David Lawman Tel: +44 20 7776 6550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
March 29, 2017 03:14 ET (07:14 GMT)
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