Mitsui, China's Golden Concord Ink MoU

Japan’s Mitsui and China's Golden Concord Group (GCL Group) have entered into a memorandum of understanding to cooperate on business relating to electric vehicles, LNG and energy conservation, Mitsui said November 7.

This agreement follows the establishment of a joint venture for new-generation energy and infrastructure related business in June 2018.

Mitsui and GCL Group plan to utilise artificial intelligence in the field of energy conservation, build LNG import terminals in China and establish electric vehicle projects in Ordos City, a subdivision of Inner Mongolia, China.

GCL Group, registered in Hong Kong, is a diversified energy conglomerate that specialises in new and clean energy. It has assets across China, Africa, Middle East, North America, Southeast Asia and Europe.