Murchison Holdings will now open a new office within a 800,000 sq FT site for Murchison Holdings Limited technology production and developments.
This development is part of a 3 member consortium of investors, which has now has signed an agreement with the People's Government of Nan'an District of Chongqing Municipality to jointly set up an industrial park, to be known as "Deutsche Industrial Town" ("DIT") and to be located in Changjiang Industrial Park, Nan'an District, Chongqing, in the People's Republic of China ("PRC").
The consortium of investors ("MET") signing jointly with MCH is Ecosoil Holdings Limited of Germany and Toptrend Group of the PRC.
The signing ceremony took place in Frankfurt, Germany on the 26th of July 2006 at the "Investment Conference on Opportunities and Prospects in Chongqing City, PRC". The Conference set out the policy support by the Nan'an District Government and incentive schemes available to German corporations wishing to establish their operations in DIT. The Conference was attended by more than 400 delegates representing a wide cross-section of medium to large German corporations.
Murchison Holdings' Chairman, Chiang Wee Tiong commented "Its great to have such a vast site within mainland China, as we will be able to truly expand our operation into China, with full support from the Nan'an District Government of China. We will be able to truly harness technology production within our group's 800,000 sq ft site, working on one site directly with our partners provides the internal resources we require to develop and truly integrate our expanding team in the development of our future applications. Its also exciting to be able to combine technology production on such a large scale with Murchison Holdings' worldwide creative team, we can ensure a high quality creative output for our finished applications and products which we have already started working on"
The First Phase planned land area of DIT is 1500 mu (approximately 1 square kilometer). It is envisaged that subsequent phases will involve land area of up to a maximum of 3 square kilometres. In addition to the planned land area of up to 3 square kilometres for DIT, the Nan'an Government also agreed to provide an additional 200 mu (approximately 132,000 sq m) for the construction of supporting amenities for the residents of DIT. Further allocation of land along the Kuxi River, which is in close proximity to DIT, for commercial facilities to be constructed by MET had also been agreed.
MCH has also been appointed to be the management company for the Deutsche Industrial Town.
Murchinson Holdings Ltd has over the past 18 months devoted resources to the building of its links with international companies and PRC entities. This Agreement represents a major milestone in MCH's well-defined transformation programme. A successful implementation of this project shall mean not only a sustainable income stream for MCH, but will also enhance the asset base of MCH in future years.
The management of Murchison Holdings is also excited in the cross-application potential of some of our Group's technological products in Digital Interactive TVs, the VoIP telecommunications and water purification systems to the residential and industrial developments of the Deutsche Industrial Town. Given that MCH has been appointed as the management company for the project, the synergistic benefits of this cross-application potential should now be quite apparent to all our shareholders.
"Following the successful Frankfurt investment conference, MCH and its consortium members are planning to lead the first visit by German corporations interested in DIT to Chongqing in mid- September 2006. MET has received sufficient expressions of interest from a number of German corporations to indicate that the First Phase of DIT is likely to be successfully implemented." said Mr Chiang Wee Tiong, Chairman of Murchison Holdings Limited.