RIAMB Signs 159 Million Yuan Warehouse System Contract With PetroChina Jilin

MT Newswires Live2024-11-26

RIAMB (Beijing) Technology Development (SHA:603082) signed a 159.1 million yuan warehouse system contract with PetroChina Jilin Chemical Engineering, according to a Shanghai Stock Exchange disclosure on Tuesday.

The Chinese logistics company will provide a stereoscopic warehouse system that will produce 1.2 million tons of ethylene every year for PetroChina Jilin.

The first batch of equipment and materials for the warehouse will arrive before July 15, 2025, and the installation will start on Aug. 1, 2025. The delivery of all materials for the warehouse shelf system will be completed and installed before Jan. 31, 2026.

The company's shares dropped 3% at the close.

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