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A nose-dive in the steel industry when the integrated steel industry in Shandong has the accelerated expansion. Yesterday, in Shandong provincial enterprises and banks in Lu Cooperation Exchange forum, a responsible official of Shandong Iron and Steel Group, said: Rizhao Iron Mountain Iron and Steel Group restructuring due diligence has been completed, will launch restructuring plan next week. In addition, the mountain of 20 million tons of steel in the sunshine fine steel bases faster pace than expected. Cash is king in this special period, mountain Steel Group has won this round of the integrated expansion ICBC, Agricultural Bank of China and other big firms in Lu 111 billion yuan of credit line. In March this year to Jinan Iron and Steel Group and Laiwu Steel Group, formed the basis of "Shandong Iron and Steel Industry Group" listing, Shandong Iron and Steel Industry consolidation plan an important step. The planning for the following: the Shandong Iron and Steel Group, "through joint-stock form of" re-Rizhao Iron and Steel, and building capacity in the sunshine 20 million tons of fine iron and steel industrial base, the scale of new projects in which 15 million tons, a building of 10 million tons, two construction 5 million tons; reserved Rizhao Iron and Steel Company five million tons of steel production capacity, into the sunshine uniform base size of fine steel. The province iron, steel, steel production capacity of 45 million tons annual production control. However, Rizhao Iron and Steel is a private enterprise, its restructuring has been protracted. Rizhao Iron and Steel by the private entrepreneur Du Shuanghua Hebei founded in 2003. In 2007, the Japanese steel output reached 7.75 million tons, almost equal to the scale of Jinan Iron and Steel, Laiwu Steel Group, the two state-owned, Du Shuanghua I have therefore this year's Hurun Rich List ranked the second. To this end, before the third quarter of this year, most people think that cross-ownership of Shandong Iron and Steel industry restructuring about becoming "empty talk." However, in September this year, the situation in the steel industry after the turn straight Mountain Steel reorganization under the Japanese steel Queshi smooth. November 5, Hill re-signed letter of intent steel and sunshine, but no one said one time process. In fact, Nippon Steel agreed to be reorganized, the mountain of steel re-sources of funding should be the biggest problem. As the economic integration of Laiwu Steel, the mountain does not change the Steel Group, said the two companies separate legal entity status, so, in fact, mountains are not many steel business entities. However, the People's Bank mergers just to relax lending conditions Queshi the major obstacle to overcome. Thus, in just half a month, the mountain after another and the Agricultural Bank of China Shandong Branch of steel, Shandong branch of ICBC signed a related agreement. Source of funding is resolved, Shandong Iron and Steel industry restructuring accelerated. Relevant person in charge of Shandong Iron and Steel Group said they expect difficulties in the operation of the steel industry in the next year "51" before and after in the end. It now appears that the establishment of steel mountain just right. Last Saturday, the Japanese steel due diligence has been concluded, in cooperation with several large banks, will launch a restructuring plan next week. In addition, the Shandong Iron and Steel has been included in the key state support for key enterprises, the sunshine fine steel bases have recently NDRC and the Ministry of Industry and reporting is completed, the base of the construction funds have been reduced from the 130 billion yuan for the 100 billion yuan, the construction pace will be faster than expected. The e-commerce company in China offers quality products such as China earth leakage testing , air permeability tester Manufacturer, and more. For more , please visit auto electrical tester today!
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