Ansteel and 3 steel mills sign agreement on capacity replacement and transfer
2021-08-30 16:32:38 [Print]
On August 27, Ansteel issued the 47th announcement of the eighth board of directors.
In order to match the development strategy plan, promote the layout optimization and structural adjustment, board of directors of Ansteel agreed to sign the Steel Capacity Replacement Transfer Agreement with Liaoning Qiandu Industry Development Co., Ltd., Liaoning Penghui Foundry Co., Ltd. and Liaoyang United Iron and Steel Co., Ltd. based on the new natioanl Measures on Steel Industry Capacity Replacement.
According to the agreement, the company will use its own funds to purchase the construction project of Liaoyang United Iron and Steel Co., Ltd. to replace the remaining 550,000 tons of ironmaking capacity (including 390,000 tons of Liaoning Qiandu and 160,000 tons of Liaoning Penghui), with a total transfer amount of RMB291.5 million (tax included) (USD45.07 milllion).
In order to match the development strategy plan, promote the layout optimization and structural adjustment, board of directors of Ansteel agreed to sign the Steel Capacity Replacement Transfer Agreement with Liaoning Qiandu Industry Development Co., Ltd., Liaoning Penghui Foundry Co., Ltd. and Liaoyang United Iron and Steel Co., Ltd. based on the new natioanl Measures on Steel Industry Capacity Replacement.
According to the agreement, the company will use its own funds to purchase the construction project of Liaoyang United Iron and Steel Co., Ltd. to replace the remaining 550,000 tons of ironmaking capacity (including 390,000 tons of Liaoning Qiandu and 160,000 tons of Liaoning Penghui), with a total transfer amount of RMB291.5 million (tax included) (USD45.07 milllion).
