Ontario Companies Sign Deals In Jiangsu Worth $420 Million



    
    Ontario Trade Mission Led By Premier McGuinty Creates Jobs And
    Opportunity
    

    TORONTO, Oct. 30 /CNW/ -

    NEWS

    It was a busy day for Ontario's Environmental Mission to China, as
Ontario firms signed three deals worth $420 million.
    Minister of Citizenship and Immigration Michael Chan participated in the
signing ceremony for three business agreements, including:

    
    -   Canada Menergy Corporation signed a strategic cooperation agreement
        with Hexi New Town of Nanjing City to provide geothermal systems,
        technology and consulting services for five projects valued at
        approximately $50 million.
    -   Canada Menergy Corp. and Greentown Real Estate Group signed a
        strategic cooperation agreement to use Menergy geothermal energy
        technologies in future projects, including the Nanjing Rose Garden
        project which is valued at approximately $30 million.
    -   ICAN International Inc. (a Menergy Corp. partner company) is
        investing $340 million to construct a 180,000 square metre
        commercial, office and hotel centre in Nanjing with the support of
        Nanjing Hexi New Town Development Authority.
    

    Ontario Premier Dalton McGuinty also took part in a celebration today
attended by delegations from 40 nations to mark three decades of friendly
exchanges between Jiangsu and foreign countries. He was the only foreign
leader invited to speak on behalf of all of Jiangsu's international partners.
    Premier McGuinty also met with Party Secretary of Jiangsu Liang Baohua
and Jiangsu Governor Luo Zhijun.

    QUOTES

    "Some of Ontario's most exciting environmental technology companies have
joined us on this mission to help build a greener economy in China, and
prosperity in Ontario. Together, we are building opportunity and a better
quality of life here in Jiangsu and back home in Ontario," said Premier Dalton
McGuinty.

    "Ontario and Jiangsu are very much alike. Both provinces are centres of
manufacturing and innovation, and the people of each province are eager to
prosper in a competitive global economy," said Minister of Citizenship Michael
Chan.

    
    QUICK FACTS

    -   The provinces of Ontario and Jiangsu were "twinned" in 1985, the same
        year the Ontario-Jiangsu Friendship Accord was signed.

    -   Since 1985 several Ontario cities have twinned with Jiangsu cities
        including: Scarborough and Wuxi in 1996, London and Nanjing in 1997,
        and Barrie and Taizhou in 2006.

    -   Jiangsu is one of China's leading economic performers with annual GDP
        growth of more than 10 per cent over the last decade.

    -   Two-way trade between Ontario and China more than doubled between
        2003 and 2007, reaching more than $21 billion last year.
    

    LEARN MORE

    Learn how the Ministry of International Trade and Investment can help you
develop your export market (http://www.ontarioexports.com/oei/).

    The Ontario-Jiangsu Business Council
(http://www.ontariocanada.com/ontcan/page.do?page=6005&lang=en) was
established in 2006 to strengthen trade and investment ties between the two
provinces.

    
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