Jinma Energy and Ansteel to establish joint venture
2020-09-25 16:39:45 [Print]
Jinma Energy recently announced that on September 22, 2020, the company and Ansteel Group Xinyang Iron and Steel Co., Ltd. entered into a joint venture agreement. Accordingly, the parties conditionally agreed to establish a joint venture company in Xinyang, Henan. 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.
Jinma Energy conditionally agreed to invest RMB700 million (USD102.62 million) into the joint venture company, accounting for 70% of the total capital investment.
