09
Oct
06:54
China's Wugang sets up transformation fund
Wuhan Iron and Steel Group (Wugang) and the state-owned China Construction Bank (CCB) have jointly established its first transformation and development fund worth CNY 12 billion ($1.79 billion). This is expected to be the first of a new kind of deleveraging project for China’s state-owned enterprises, which could help Baosteel and Wugang's merger process, Kallanish notes.
After Baosteel and Wugang officially announced their merger in June, Wugang signe…
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Anonymous
Very good overview of the weekly steel market.
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