Investment Agreement
Exhibit 10.6
(English
Translation)
Party
A: Management Committee of Laobian Industrial Park
Party
B: Dalian Heavy Mining Equipment Manufacturing Co.,
Ltd.
After
friendly negotiation, Party A and Party B hereby enter into the following
agreement in regard with the investment and construction of “ZDF
Vacuum Composite Steel Mode” project:
ONE Investor
The
project is invested by Dalian Heavy Mining Equipment Manufacturing Co,
Ltd.
TWO Place
of Project
The
project is to be located in the Steel Industrial Part of the Laobian Industrial
Park.
THREE Area,
Nature and Conditions of the Land for Project
The
proposed project land is 66,667 square meters (100 acres), including 40,000
square meters (60 acres) ready for the fist stage development, 26,667 square
meters (40 acres) for reserve (to be developed). The nature of the land is
industrial. The term of use is 50 yeas.
The
condition of the land is that it shall be ready for use with “five utilities and
one leveling” (water, power, transportation, communication, post office and the
land shall be leveled.)
FOUR Price
of Land
The
expropriation is to be activated upon the Industrial Land Use Permit, at the
price of ¥75/m², all of which shall be contributed to the Science Supporting
Fund and to be returned to the Corporation.
FIVE Period
of Investment and Construction
The total
investment is RMB one hundred million, including fixed-asset investment XXX 00
xxxxxxx, xxxxxxxxx XXX 20 million. The first investment is XXX 00 million, and
the second investment is RMB 50 million.
1
After the
completion of the project, the annual outcome of Vacuum Composite Steel Mode
shall be 500, 000 tons.
This
project is set for two stages, the first starting from 09/2010 to 07/2011; the
second starting from 04/2012.
SIX. Liabilities
of Party A and B
1. Immediate
after the contract Party A shall convey the land for Party B’s use and plan; 30
days subsequent to the contract the land shall be equipped with the basic
facilities, including temporary water, power supply, and be ready for
constructive use.
2. Party
A shall assist Party B in the registration processing of in the Industrial and
Commercial Administration Bureau and the Revenue.
3. Party
A agrees Party B is to start construction pending the registration.
4. Party
A shall assist Party B in the submission of necessary documents to the
Environment Protection and Fire Departments in the processing of construction
permit.
5. Party
B shall process the construction in accordance with the schedule set forth by
the Article FIVE.
SEVEN Preferential
Incentives
Party B shall be eligible for any
preferential incentives announced by the State, province, city, Liaoning Coastal
Economy Lane (proposed and submitted to the provincial government and to be
applied after approval) and also for the Liaobian investment preferential
incentives regarding the fees and charges of land use, administration and
institution.
“Zero” land use fee. Since
it is high-tech project in association with Minmetals Steel, the investor shall
be allowed to start early construction in advance and wait until the application
for land use permit is submitted, at which time the investor shall pay in terms
of Article FOUR in this agreement, the full amount of which shall be redeemed to
the investor from the Science Development Fund as soon as it is in receipt of
land use permit as the science development fund.
“Zero” charge. The following 9 itemized
administrative and institutional charges will be paid by the government: (1)
Fencing fee ; (2) Property Survey fee ; (3) Assessment fee (4) Design and
Planning fee (5) Material Testing fee(6) Brick Alternation fund (7)
Anti-fire accessories fee (8) Civil Air Defense Construction Permit fee; (9)
Excessive Noise and Sewage Fine.
2
EIGHT Liability
1. Any
non-performance due to the fault of Party A, which causes the late
supply of land or failure to implement preferential incentives, resulting in
Party B’s incapability of constructing and producing as agreed upon this
agreement, Party B shall be have right to terminate this contract and is entitle
to direct economic damage incurred therefrom.
2. Any
non-performance due to the fault of Party B which prevents the construction from
starting as scheduled shall give right to Party A to terminate the agreement and
be entitle to an unconditional return of its investment.
NINE Miscellaneous
1. if
there is any change to the State macro policy, this agreement shall comply
accordingly.
2. Any
issue not decided during the execution of this agreement shall be friendlily
negotiated and determined by a supplemental agreement between the parties. Such
agreement is deemed to have the same legal effect as this
agreement.
3. This
agreement has four original copies, two held by each party and effective once
signed and stamped.
|
Seal
of Part A
|
Seal
of Party B
|
|
Corporate
Representative
|
Corporate
Representative
|
|
/s/ Xx, Xxxx
|
/s/ Xxxx,
Xxxxx
|
|
Seal
in red
|
Seal
in red
|
|
Management
Committee of Laobian Industrial Park
|
Dalian
Heavy Mining Equipment Manufacturing Co., Ltd.
|
|
2010
Year Month Day
|
3
