HangSteel to invest in a coke project

HangSteel to invest in a coke project

Industry sources report that Chinese companies HangSteel, Nanjing Steel, Shanghai Coking Company and Minmetals Company are planning to invest in a coke plant jointly with Huaibei Mining Group to ensure stable raw material supply. The new company, which will be named as LinHuan Coking Company, will have a total capital stock of Yen 600 million ($72.5 million). HangSteel will hold 10% stake in the coke plant through providing Yuan 60 million of the capital.