It is reported that Qingdao East Steel Tower Stock plans to jointly establish a membrane technology company, Qingdao Sanchuanda Investment with its partners for CNY 19.8 million.

The joint venture will be involved in the research and development, production and sale of membrane technology. The joint venture will have a registered capital of CNY 66 million of which East Steel Tower will have a 30% stake. Qingdao Sanchuanda Investment will contribute CNY 29.04 million for a 44% stake.

A technology team will inject some capital and its expertise in return for a 26% stake.

(Sourced from yicai.com)