Zhenyou Technology (688418.SH) signed a turnkey engineering framework agreement for the “Democratic Republic of the Congo National Backbone Optical Fiber Broadband Network Project”

Zhitong Finance App News, Zhenyou Technology (688418.SH) announced that the company signed a framework agreement with the Democratic Republic of the Congo Optical Fiber Company on the “Democratic Republic of the Congo National Backbone Optical Fiber Broadband Network Project” turnkey project. The project uses a total price contract model, and the total contract budget amount is 1.5 billion US dollars (excluding tax). The project consists of a “framework agreement+order”, and the order is an integral part of this agreement; each order is independently accepted and settled.

According to the announcement, this project is a Democratic Republic of the Congo (DRC) mineral resources exchange infrastructure project, and the actual value of the mineral resources will be the financial guarantee for the project budget. According to the agreement, the launch date of this project is the first working day after the relevant departments of the Democratic Republic of the Congo (DRC), the mining project investor, and Zhenyou Technology signed a separate cooperation agreement on the mineral resources exchange infrastructure project after the entry into force of this agreement. The total construction period is 48 months. That is, the commencement of this project is conditional on the signing of a cooperation agreement on the exchange of mineral resources for infrastructure projects in the Democratic Republic of the Congo (DRC), but the signing of the cooperation agreement has not yet been carried out. Therefore, the implementation cycle of this project is long, and there is still uncertainty about the project launch date and project payment.