BRIEF-Wuchan Zhongda's Unit Plans To Invest 800 Mln Yuan To Set Up Petroleum JV
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May 21 (Reuters) - Wuchan Zhongda Group Co Ltd:
* SAYS CAPITAL NOT IN PLACE FOR UNIT'S ORIGINALLY PLANNED PETROCHEMICAL JV WITH PARTNERS CEFC SHANGHAI INTERNATIONAL AND ZHOUSHAN COMMUNICATIONS INVESTMENT GROUP
* SAYS UNIT PLANS TO INVEST 800 MILLION YUAN ($125.30 million) TO SET UP PETROLEUM JV WITH PARTNER
* SAYS THE NEW PETROLEUM JV WILL BE FORMED BY UNIT AND ZHOUSHAN COMMUNICATIONS INVESTMENT GROUP Source text in Chinese: https://bit.ly/2KJCvXV Further company coverage: ($1 = 6.3848 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)