PXS: Signing a leasing contract

On 9th August 2010, the Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PVC-MS) and the Sao Mai - Ben Dinh Petroleum Investment Joint Stock Company (PVSB) signed an economic contract No.45/PVSB-PVC.MS/07-10B about leasing land with the following contents:

- PVSB has leased the land to PVC-MS with area of 23 hectares

Using purpose: PVC-MS builds the place to process metal structure and the specialized equipment manufacture factory under the policy of the Vietnam Oil & Gas Group. The place is put into operation at the beginning of 2011 after completing construction. Its capacity is expected to process about 70,000 tons of metal structure and transport 10,000 tons of metal structure to a 280-meter wharf bridge.

- Leasing time: 49 years

- Contract value: VND130.4 billion (Excluding VAT)

On 11th December 2009, both parties signed a contract No.23/PVSB-PVC/12-09/M in principle to have memorandum of the contents above.

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