A spokesperson for Anshan Friday indicated that while Chen Ming, Vice President of Anshan's parent company, Angang Steel Co. had said the investment deal had been "shelved" due to a belief that the "likelihood the project will be approved is very low", that the comments were "misunderstood".
"I am sure the deal won't be delayed and it will advance as the parent company planned," said Fu Jihui, Angang Board secretary in an interview with the Wall Street Journal.
Burson-Marsteller, the company's PR firm, further went on to say that Anshan's goal to invest in the US market remained unchanged.