Anyang Iron and Steel to establish joint venture with RMB400 million
2018-06-29 16:50:29 [Print]
Anyang Iron and Steel announced on June 28 that the company plans to jointly establish Angang Zhoukou Iron & Steel Co., Ltd. with companies such as Zhoukou Industrial Agglomeration Development Investment Co., Ltd. The registered capital of the new company will be RMB1.1 billion, of which, the company will contribute RMB400 million in currency, holding 40% of the shares; Zhoukou Industrial Agglomeration Development Investment Co., Ltd. will invest RMB300 million in currency, holding of 30% of the shares; Zhoukou Investment Group Co., Ltd. will invest RMB200 million in currency, holding 20% of the shares; Zhoukou Port Logistics Park Construction and Development Co., Ltd. will invest RMB100 million in currency, holding 10% of the shares. The purpose of this investment is to leverage Zhoukou's advantage of inland river water transport, surrounding steel market and geographic location, and further optimize the company's industrial layout, product structure and enhance the company's overall competitiveness.
