Repurchase Agreement for the Waste Heat Power Generation Project of Sinosteel Group Jilin Ferroalloy Co., Ltd.Repurchase Agreement • June 24th, 2015 • China Recycling Energy Corp • Services-business services, nec
Whereas, Party A and Party B signed a “Cooperative Agreement for Furnace Gas Waste Heat Power Generation Project” on May 9, 2013 (the "Cooperative Agreement"). Party A has completed its obligation including construction, testing and power generation as agreed in the Cooperative Agreement. Party A has the ownership of the project. The project has been in normal operation for one and a half years. On December 2014, China Sinosteel Group signed an equity transfer agreement regarding Sinosteel Group Jilin Ferroalloy Co., Ltd. with Liaoning Zhongze Group. Pursuant to the equity transfer agreement, Zhongze Group became the controlling party of Sinosteel Group Jilin Ferroalloy Co., Ltd. After the transfer and restructuring, Sinosteel Group Jilin Ferroalloy Co., Ltd. set out a new strategic plan and it would fully integrate all its auxiliary projects including waste heat power generation projects.
