21
Jul
01:00
Bengang raises capital for CRC project
Northern China’s Bengang Steel Plates, the listed arm of Benxi Iron and Steel, plans a non-public offering of shares to raise up to CNY 4 billion ($650 million). Bengang is investing in a CNY 6.1 billion, 2.2 million tonnes/year autosheet facility. This had been scheduled for commissioning a first phase at the end of 2014 but the weak market and difficult financial situation have set the project back, Kallanish notes.
If the funds are forthcoming, full…
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Anonymous
Very good overview of the weekly steel market.
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