It is reported that signing ceremony of investment framework agreement between Fujian Sanming Steel Minguang and Fujian Yixin Steel is held at Luoyuan County, Fuzhou City.
Sangang Minguang will invest in its 1.22 million tons iron and 1.35 million tons steel production capacity, cash and other assets, accounting for 51% of the joint venture shares; Yixin Steel invests its 0.96 million tons iron and 1.2 million tons steel production capacity, all of the land and mutual recognition of the available public facilities, cash and other assets, accounting for 49% of the joint venture shares.
The new joint venture will locate in Yixin Steel plant.
(To contact the reporter on this story: molly.shi@steelhome.cn or 86-21-50585358) |