Jinma Energy and Ansteel to establish joint venture

Jinma Energy recently announced that on September 22, 2020, the company and Ansteel Group Xinyang Iron and Steel Co.Asian Metal Copyright Jinma Energy conditionally agreed to invest RMB700 million USD102.Asian Metal Copyright, Ltd.Asian Metal CopyrightJinma Energy recently announced that on September 22, 2020, the company and Ansteel Group Xinyang Iron and Steel Co.Asian Metal Copyright entered into a joint venture agreement.Asian Metal Copyright Accordingly, the parties conditionally agreed to establish a joint venture company in Xinyang, Henan.Asian Metal Copyright Accordingly, the parties conditionally agreed to establish a joint venture company in Xinyang, Henan.Asian Metal Copyright Jinma Energy conditionally agreed to invest RMB700 million USD102.Asian Metal Copyright The joint venture company will be mainly engaged in the production and sale of coke, the production and sale of electricity from waste heat in related production processes, and the production and sale of heat energy.

Jinma Energy conditionally agreed to invest RMB700 million (USD102.62 million) into the joint venture company, accounting for 70% of the total capital investment.

.Asian Metal Copyright The joint venture company will be mainly engaged in the production and sale of coke, the production and sale of electricity from waste heat in related production processes, and the production and sale of heat energyAsian Metal Copyright