Xinyu Renewable Resources receives RMB100 million of financing assistance
2021-03-01 17:16:34 [Print]
On February 20, Xinyu Iron & Steel went to Xinyu Renewable Resources Co., Ltd. for investigation and held a special meeting, which clearly required that on the basis of legal compliance, Xinyu Iron & Steel should provide RMB100 million (USD15.44 million) of financing assistance to Xinyu Xinyu Renewable Resources Co., Ltd. in the form of "commercial paper discount" to fully support Xinyu Renewable Resources Co., Ltd. to become bigger and stronger.
Xinyu Renewable Resources is a joint venture of Xinyu Cooperation, Xinyu Iron & Steel and Xingrong Mining Co., Ltd. since its establishment and operation in 2020, it has recovered 200,000 tons of steel scrap and realized a sales revenue of RMB520 million (USD80.31 million).
Xinyu Renewable Resources is a joint venture of Xinyu Cooperation, Xinyu Iron & Steel and Xingrong Mining Co., Ltd. since its establishment and operation in 2020, it has recovered 200,000 tons of steel scrap and realized a sales revenue of RMB520 million (USD80.31 million).
