China Oriental Group purchases 600,000t of steel capacity

China Oriental Group announced it holds 97.Asian Metal Copyright Meanwhile, Jinxi Steel acquired a 29% stake of Zhengda Steel from Li Feng for 14.Asian Metal Copyright6% of Jinxi Steel's 600,000t of steel capacity which were purchased from Tangshan Capacity Trading Center at 892 million yuan in cash.Asian Metal Copyright5 million yuan in cash, and then it will hold the full stake of the latter.Asian Metal Copyright Meanwhile, Jinxi Steel acquired a 29% stake of Zhengda Steel from Li Feng for 14.Asian Metal Copyright5 million yuan in cash, and then it will hold the full stake of the latter.Asian Metal Copyright5 million yuan in cash, and then it will hold the full stake of the latter.

Zhengda Steel is mainly engaged in the production and sales of steel products and iron ore trade. After it shut down in 2017, it has no substantial business operation and remains inactive.

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