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Kibing Glass received Subsidy of RMB 84 million for Wharf Construction

Post Time:Apr 20,2012Classify:Company NewsView:296

  

(China Glass Network) Zhangzhou Kibing Glass, wholly owned subsidiary of Kibing Group has reeched an agreement with Dongshan RTA on public wharf construction. The both sides signed an agreement to construct a 3 DWT public wharf located in Zhangzhou port.

 

The announcement issued that Dongshan RTA should provide subsidy funds of RMB 84 million for basis supporting facilities of the project and Kibing Glass will be responsible for the over-all construction of the  3 DWT public wharf with total investment of RMB 400 million.

 

According to the accounting policy of Zhangzhou Kibing Glass that the government subsidy will be recorded in the profits and losses of the company by stages after the wharf reach expected conditions for use. The subsidy will have positive effect in the profit and loss during the operating period of the company from 2014 and twenty years following that.

Source: glassinchinaAuthor: shangyi

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