The Bureau of Science, Technology and Industry of Changge city in China’s Henan Province has announced that Henan Province-based Jinhui Stainless Steel Industry Group has invested RMB 2.0 billion ($0.29 billion) to acquire a stake in Henan-based Chinese steelmaker Henan Iron & Steel Group Co. LTD (Henan Steel), thereby now holding 10 percent equity in Henan Steel.
As previously reported by SteelOrbis, Henan Steel was registered on March 1 this year, with a registered capital of RMB 20.0 billion ($2.9 billion).
$1 = RMB 6.8886