Greater China Corporation Announces Mongolia Agreement
NEW YORK, Oct. 30 /PRNewswire-FirstCall/ Greater China Corporation today announced an agreement to form the "U.S. - Mongolian Development Corporation" ("USMDC") in partnership with Envirodesign, International Architects and Planners. USMDC will be initially owned 50% by GCC and 25% by Envirodesign with the remaining shares being held by Mongolian and international development and financing partners.
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Greater China Corporation Announces Mongolia Agreement
NEW YORK, Oct. 30 /PRNewswire-FirstCall/ Greater China Corporation today announced an agreement to form the "U.S. - Mongolian Development Corporation" ("USMDC") in partnership with Envirodesign, International Architects and Planners. USMDC will be initially owned 50% by GCC and 25% by Envirodesign with the remaining shares being held by Mongolian and international development and financing partners. A fully-integrated plan for a residential, commercial, industrial, education, healthcare and entertainment community has already been designed which emphasizes the use of solar energy and other environmentally beneficial technologies.
The partner organizations have been working together for a number of years to identify the ideal location for an initial project using the unique COMPONOFORM(TM) structural building system (see www.componoform.com) which is provided by Envirodesign. After a number of meetings with local developers, government officials and financing partners, Mongolia was selected as an ideal initial site for collaboration of the parties. COMPONOFORM(TM) was selected because it is a highly cost-effective system that can provide year-round construction and employment even during the winter season.
Mongolia, which is situated between China and Russia, is the 19th largest country in the world. With a population of only 2.9 million and with vast untapped precious minerals such as tungsten, molybdenum, tin, copper and gold, as well as a strong agricultural sector, it has great untapped potential. China is its largest trading partner and it is following closely on China's path of economic development with a GDP growth rate exceeding 8%. Its economic policies foster free enterprise and welcome foreign investment.
The Government is a multi-party parliamentary democracy which actively supports transparency and anti-corruption. The President, Nambaryn Enkhbayar, who is fluent in English, is a strong supporter of the United States. President Bush visited the country in 2005 and President Enkhbayar reciprocated in October, 2007 in Washington. At this historic meeting President Bush personally signed a five-year $285 million "Millennium Challenge" grant for the country. This meaningful event was due in large part to the constructive roll played by U.S. Ambassador to Mongolia, Mark Minton.
Following the White House meeting, President Enkhbayar visited New York with Ambassador Minton, who met with GCC, CEO, John W. Allen to discuss the Mongolian project. A follow-up meeting in Mongolia's capital, Ulaanbaatar, is planned during November.
Greater China Corporation (www.gccweb.blogspot.com/) is a U.S. public company specializing in diversified growth opportunities in China and associated economies such as Mongolia. It focuses on unique opportunities for building major companies with experienced entrepreneurs and strong local and international partners.
Statements in this press release that are other than historical facts are "forward-looking" in that they contain expectations about future results. There can be no assurance that the events described in the above announcement will be completed as anticipated.
For additional information please contact: info@greaterchinacorp.com or Jon Scott: hi2jon@hotmail.com or (866) 696-GCHC (4242).
Web site: www.componoform.com/ www.gccweb.blogspot.com/
Web site: www.componoform.com/ www.gccweb.blogspot.com/ |
