On November 10, Gelonghui announced that Qinfeng Gas, 601369.SH a holding subsidiary of the Company, intends to invest in the establishment of Chifeng Qinfeng Gas Co., Ltd. (hereinafter referred to as "Chifeng Qinfeng Gas"), and Chifeng Qinfeng Gas is responsible for the construction and operation of Chifeng Zhongtang Special Steel Co., Ltd. (hereinafter referred to as "Chifeng Zhongtang") with an annual output of 2.7 million tons of fine steel projects supporting 2×40,000 Nm3/h air separation projects.
Business scope: ironmaking, steelmaking, steel rolling processing, ferroalloy smelting, smelting of commonly used non-ferrous metals; manufacturing of structural metal products; mineral products, building materials and chemical products (excluding hazardous chemicals), machinery and equipment, hardware products and electronic products, textiles, clothing and household goods wholesale and retail; other unspecified retail industry (projects that require approval according to law can only carry out business activities after approval by the relevant departments).
Chifeng Zhongtang Special Steel Co., Ltd. is under construction for a fine steel project with an annual output of 2.7 million tons, with total assets of 4.419 billion yuan as of June 30, 2021.
This project increases the operating scale of Qinfeng Gas by 80,000Nm3/h, which is in line with the company's development strategy of expanding gas business. At the same time, it can also drive the company's "equipment sales, engineering general contracting, industrial services" and other industries, and the investment benefits and synergies are obvious.
This article originated from Grand Gateway
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