Risun Chemical and Lingyuan Iron and Steel to build a joint venture
2019-12-10 18:00:41 [Print]
China Risun Chemical announced that on December 9, 2019, the company's indirect wholly-owned subsidiary, Risun Chemical, entered into a joint venture contract with Lingyuan Iron and Steel. Accordingly, both parties agree to jointly establish a joint venture company, Lingyuan Risun Linggang Energy Co., Ltd., to invest in the construction of supporting coke projects. Risun Chemical and Lingyuan Iron and Steel will respectively subscribe the registered capital of the joint venture of RMB1.166 billion (USD166 million) and RMB500million (USD71 million), accounting for 70% and 30% of the equity of the joint venture.
The scale of the project is 3 million tons of coking, 600 million cubic meters of hydrogen per year, 200 million cubic meters of nitrogen per year, 300,000 tons of liquid ammonia, 5 million square meters of waste heat heating and supporting public and auxiliary facilities. The total investment of the project is about RMB5 billion (USD0.71 billion), covering an area of 1400 mu, and the construction period is 4 years. After completion, the project is expected to produce 3 million tons of coking and other fine chemical products annually, most of which are supplied to Lingyuan Iron and Steel.
The scale of the project is 3 million tons of coking, 600 million cubic meters of hydrogen per year, 200 million cubic meters of nitrogen per year, 300,000 tons of liquid ammonia, 5 million square meters of waste heat heating and supporting public and auxiliary facilities. The total investment of the project is about RMB5 billion (USD0.71 billion), covering an area of 1400 mu, and the construction period is 4 years. After completion, the project is expected to produce 3 million tons of coking and other fine chemical products annually, most of which are supplied to Lingyuan Iron and Steel.
