Wednesday, January 17, 2018

Lake Asphalt signs MOU with Chinese company


3-DAY VISIT: Xi Jinping

Donstan Bonn

State-owned asphalt production company, Lake Asphalt, will today sign a memorandum of understanding with a Chinese firm, which specialises in waterproofing construction materials.

The ceremony takes place the same day Chinese President Xi Jinping arrives here on a three-day official visit.

According to a release from Lake Asphalt of Trinidad and Tobago (1978) Ltd, the signing ceremony of a Memorandum of Understanding and a Confidentiality Agreement with Beijing Oriental Yuhong Waterproofing Technology Co Ltd of the People’s Republic of China is scheduled to take place at the Hyatt Regency, Port of Spain.

Beijing Oriental Yuhong Waterproof Technology Co, Ltd is a China-based provider of construction waterproof systems.

The company is engaged in research, manufacture, distribution and technology consulting of new construction waterproof materials. Its products are classified into waterproof membranes and waterproof coatings, including styrene-butadiene-styrene (SBS) modified asphalt membranes, atactic polypropylene (APP) modified asphalt membranes, self-adhesive modified asphalt membranes, compound polymer membranes, sealing materials, solvent rubber asphalt waterproof coatings and water type rubber asphalt waterproof coatings, among others. The company also involves in undertaking of waterproof projects. It operates its businesses primarily in domestic market.

Lake Asphalt is a wholly owned State enterprise under the purview of the Ministry of Energy and Energy Affairs of Trinidad and Tobago. The company is located near the Pitch Lake in La Brea and is charged with the mining, refining, manufacture and distribution of high quality road building materials and other asphalt-related products.