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Article: China: Sinosteel eyes ferroalloy assets in Guangxi.
- Article from:
- TendersInfo
- Article date:
- September 12, 2008
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Byline: pinto03
It is reported that Sinosteel recently signed a frame contract with the Laibin city government, Guangxi to merge with Guangxi Bayi Ferroalloy Co Ltd.
According to the deal, Sinosteel will invest about CNY 10.4 billion to help the group form a ferroalloy capacity of 1.08 million tonnes per year and a stainless steel capacity of 800,000 tonnes; create annual sales revenue of more than CNY 20 billion and a profit and tax of about CNY 4.5 billion.(USD1.5bn)
Bayi Ferroalloy Group is China s largest producer of manganese ferroalloy and the biggest ferroalloy production base in Guangxi. It currently runs 23 electric furnaces with a ...