QualityStocksNewsBreaks – Petrogress, Inc. (PGAS) Subsidiary Enters Joint Venture MOU with EDT Agency Services
Diversified marine transport and offshore services company Petrogress, Inc. (OTC: PGAS), through subsidiary Petrogress Int’l, LLC (“PIL”), this morning announced its entry into a Memorandum of Understanding (“MOU”) with EDT Agency Services, Ltd. to combine the companies’ operations at the Port of Limassol, as well as future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. Per the update, the MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services Ltd., with the goal of providing…