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Jiangsu Rainbow opens joint venture firm in Singapore

Jiangsu Rainbow opens joint venture firm in Singapore
China’s Jiangsu Rainbow Heavy Industries (RHI) has entered into a partnership agreement with Singapore-based engineering firm Ten-League International Holdings to set up a joint venture in Singapore.

The new joint venture, named Ten-League Rainbow Heavy Industries, is expected to help RHI expand its presence in Southeast Asia and extend its technical support to overseas clients, as well as enhance the company’s technology and branding.

“The joint venture investment will help to widen our international cooperation, enhance innovation and exchange of ideas, and expand our global presence,” RHI said.

RHI will take a 40% stake in the joint venture with Ten-League owning the remaining 60% from their respective SGD400,000 ($302,000) and SGD600,000 investments.