Sinosteel invests RMB 8.4 billion in scrap processing base

Friday, 22 January 2010 11:53:31 (GMT+3)   |  
       

Chinese state-owned company Sinosteel Group has lately commenced construction work on its strategic investment project for a scrap processing base in Shenyang, the capital of the northeastern Chinese province of Liaoning. Following a long period of research, Sinosteel Group has finally decided to invest RMB 8.4 billion ($1.23 billion) in setting up a scrap processing base in Shenyang.

Sinosteel Group posted sales revenues of RMB 155.2 billion ($22.73 billion) for 2009.


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