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Huguang Co., Ltd.: Plans to establish a Singapore subsidiary and invest up to €37.5 million to build a manufacturing facility in Tunisia
Huguang Co., Ltd. announced that its wholly-owned subsidiary Huguang (Hong Kong) International Co., Ltd. intends to establish a wholly-owned subsidiary in Singapore, HUGUANG INTERNATIONAL PTE.LTD., which will jointly set up Huguang Auto Harness Tunisia SARL in Tunisia with Huguang Hong Kong. The registered capital is 15 million Tunisian dinars, with Huguang Hong Kong holding 1% and the Singapore subsidiary holding 99%. The total investment amount will not exceed 37.5 million euros, with funding sourced from the company’s own funds, primarily for establishing and operating overseas companies, purchasing land, constructing plants, procuring equipment, and other related matters. The construction period for the first phase of the project is expected to be six months.