Banquin Newtai Corp. seeks Kuwaiti Investment Agency

PengXin New Tide Energy Technology Co., Ltd., a Chinese company, has applied to establish a company in Kuwait named "New Tide Kuwait" with a capital of 5 million Kuwaiti dinars, aiming to treat and dispose of hazardous and non-hazardous waste. The company complies with Kuwaiti laws and enjoys legal personality; obtaining licenses and approvals is required to carry out its activities. The contract states that the company's duration is 99 years, with automatic renewal possible. Its activities are limited to waste treatment, and certain investments are prohibited.

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