Metals & Mining

Mon, 08/23/2010 - 14:38

Beijing Shougang to invest $287 mln in automotive venture

Shanghai. August 23. INTERFAX-CHINA - Beijing Shougang Co. Ltd., the Shenzhen Stock Exchange-listed subsidiary of state-owned Shoudu Iron and Steel Group (Shougang), announced on Aug. 21 that it plans to spend RMB 1.95 billion ($286.81 million) in establishing an automotive company together with Beijing Automotive Industry Holding Co. Ltd., Beijing State-owned Assets Management Co. Ltd., Xiandai Chuangxin Holding Ltd., Beijing Energy Investment Holding Co. Ltd. and Beijing State-owned Assets Management Center.

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