EXHIBIT 10.95
Construction Agreement of Heat and Steam Network of
Luannan Heat and Power Plant for Tangshan Pan-Sino Heat Company, Ltd.
Tangshan Pan-Sino Heat Co., Ltd., is related to Luannan Heat and
Power Plant, whose planned capacity is 2x50 MW. In order to achieve the
expected social benefits, the construction of Heat and Steam Network will
start and proceed simultaneously with the construction of the Luannan Heat
and Power Plant, and will finish ahead of the completion of construction
of the Luannan Heat and Power Plant. The construction of the Heat and
Steam Network will be contracted to Tangshan Heat and Engineering Company.
1. Scope of Construction: 12.1 kilometers hot water pipeline, 8.78
kilometers steam pipeline, heat exchange stations, heat control equipment
and civil construction.
2. Cost: The budget of the construction of the Heat and Steam Network is
RMB 24,170,000.00 in 0000 XXX. The cost is subject to escalation according
to Chinese State Statistic Bureau Price Index (Chinese CPI).
3. Payment Schedule: The contractor will begin construction upon Notice
to Proceed. 10% of the total cost will be paid by the owner as down
payment. The rest of payment will be paid out according to milestones of
the construction of the Network.
4. Construction Schedule: The construction of Heat and Steam Network
will start and proceed simultaneously with the construction of the Luannan
Heat and Power Plant, and will finish ahead of the completion of
construction of the Luannan Heat and Power Plant.
Tangshan Pan-Sino Heat Co., Ltd. Tangshan Heat and Engineering Company
Legal Representative: Legal Representative:
Xxxxx Xxxxxxxx Li Yao
June 20, 1996 June 20, 1996
