A Dacheng team led by senior partner Jiang Rongqing advised a central enterprise on the acquisition of a heavy crude oil-fired power plant in Liberia. Jiang and his team coordinated colleagues from Dacheng’s Hong Kong office and local attorneys in Liberia, conducted due diligence, participated in negotiations and prepared legal documents in connection with the project, which commenced at the end of December 2013.
A state-owned conglomerate affiliated with SASAC, the central enterprise is engaged in construction and engineering technology research, survey, design and service, investment in and operation of hydropower plants, as well as property development and management. At the end of 2013, its board of directors passed a resolution to set up a Liberia-based limited company to invest in a Bong Mine heavy crude oil-fired power plant. This plant is located in the southwest of Bong province, to the northeast of Liberian capital Monrovia. The construction started in early 2014 and the plant is expected to operate in the end of 2016 with a total installed capacity of 174MWs.
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