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Article: FUSHUN SPECIAL STEEL TO BEGIN CNY10BN UPGRADE PROGRAM

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AsiaInfo Services
Article date:
June 9, 2009
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AsiaInfo Services
06-09-2009
Fushun Special Steel to Begin CNY10bn Upgrade Program

FUSHUN, Jun 09, 2009 (SinoCast Daily Business Beat via COMTEX) -- Fushun Special Steel Co., Ltd. (SHSE: 600399), a listed arm of Dongbei Special Steel Group, announces a technical upgrade and rebuilding program that will need medium and long-term investment of CNY 10 billion or so.

The company will pour CNY 4.474 billion in the coming three to five years. It will borrow bank loans of CNY 2,660.32 million and earmark self-owned fund of CNY 1,813.38 million. The detailed construction schedule will be fixed in line with when the regulatory approval and funds are got.

Fushun Special Steel intends to build up a ...

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