Xuzhou Zhongtai CDQ & Waste Heat Power Generation System Transfer AgreementChina Recycling Energy Corp • March 18th, 2016 • Services-business services, nec
Whereas, Party A entered into a CDQ Power Generation Energy Management Cooperative Agreement with Party B on December 6, 2013 (“Zhongtai Agreement”); Pursuant to the Zhongtai Agreement, Party A entered into an EPC Contract for the CDQ Waste Heat Power Generation Project (the “Project”) with Party C on December 12, 2013 (“EPC Contract”). Pursuant to the EPC Contract, Party C undertakes the construction of the Project. As of January 31, 2016, Party A has paid Party C RMB 152,360,000 construction fee according to the EPC Contract, which has been verified and confirmed by the three parties. Party A has incurred RMB 31,916,487.60 loan interest for the Project. The ownership of assets of the Project belongs to Party A.
