Gelonghui, October 10, 丨 Zhidao International (01220.HK) announced that on October 9, 2024, the company entered into a framework agreement with Belt and Road Infrastructure Limited (acting through its general partner Belt and Road EPC Capital Limited Belt Road Infrastructure Capital Co., Ltd.) (“Belt Road Fund”) regarding possible joint ventures in certain engineering, procurement and construction (“EPC”) projects in Indonesia.

According to the framework agreement, subject to the terms and conditions of the formal joint venture agreement, the contracting parties will cooperate to establish a joint venture to carry out EPC work for road and port terminal development projects and/or other potential toll road construction projects in Indonesia (collectively, “such projects”). It is expected that the joint venture responsible for such projects will hold 80% of the shares and 20% of the shares respectively from the Belt Road Fund and the company. The Pilot Fund will be responsible for funding the joint venture's overall EPC costs for such projects, and the company will not be required to contribute and/or provide any funding to the joint venture, including the joint venture's EPC costs relating to such projects, at the cost of a certain number of company shares to be agreed upon, subject to approval and consent of the board of directors and company shareholders (if applicable), and subject to the Hong Kong Stock Exchange Limited securities listing rules and any applicable rules and requirements of the supervisory authority.

According to reports, the Belt Road Fund is a limited partnership fund established under Hong Kong law. The sole purpose is to invest in large-scale EPC projects in Belt and Road countries, with a special focus on road and bridge EPC, transportation, marine infrastructure, natural resources and mining, metals trading, agriculture and electronic payment companies.