Jilin Jinguan electric to build road between Iran and Russia for new energy facilities

Shenzhen-listed Jilin Jinguan Electric Co Ltd signed a memorandum of understanding (MoU) to build a road between Iran and Russia for the constructions of new energy facilities, it said on Wednesday. The company plans to build 70 optical storage and charging stations worth 1.4 billion yuan and 3,400 charging facilities worth 68 billion yuan ($9.8 billion), according to a filing on Shenzhen stock exchange.

The total planned length of the road is 3,500 kilometres, the company said after signing the MoU with Russian's Chamber of Commerce and Industry in the Middle East (CCI). ($1 = 6.9121 Chinese yuan renminbi)