Minmetals to Be Involved in Construction in Yingkou

 

China Minmetals Corporation, on February 2nd, sealed with the People's Government of Yingkou in Liaoning Province "the Agreement on Construction of Minmetals Industrial Park in Yingkou Coastal Industrial Base, Liaoning Province" and "Agreement of Assets Transfer of Yingkou Medium Plate Plant".

China Minmetals Corporation, on February 2nd, sealed with the People's Government of Yingkou in Liaoning Province "the Agreement on Construction of Minmetals Industrial Park in Yingkou Coastal Industrial Base, Liaoning Province" and "Agreement of Assets Transfer of Yingkou Medium Plate Plant".

Minmetals has responded the Government's call to revitalize the old industrial base in northeast China by making strategic cooperation with the Liaoning Province and developing the coastal economic zone in Liaoning. According to the above mentioned agreements, Yingkou will transfer to Minmetals an area of 20 square kilometers in its coastal industrial base so that Minmetals can bring its influence and the global network into full play, introduce more investments and construct Minmetals Industrial Park for development of new materials, advanced equipment, supply of raw materials, distribution and processing of steel products, logistics and real estate. Meanwhile, the People's Government of Yingkou will transfer 100 percent of the state-owned assets of Yingkou Medium Plate Plant to Minmetals. After the transfer, Minmetals will have absolute share controlling of Minmetals Yingkou Medium Plate Co. Ltd. Minmetals Development Co. Ltd. will make joint investments enabling the Group to be involved more in the steel production.

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