HK-listed CITIC Pacific to sell Shi Steel for US$278 mln: report
Mon, March 15 2010 15:05 | 258 Views
CITIC Pacific confirmed on Wednesday it is in talks with HBIS for the proposed transfer of the auto-use steel producer located in Shijiazhuang city, the capital city of Hebei province, northern China.
According to the plan of the Hebei provincial government, large industrial enterprises have to move out of the downtown area of Shijiazhuang. The cost of moving and reconstructing Shi Steel is estimated to be about three billion yuan.
Source:
Business in Asia Today - March.15, 2010
published by Asia Pulse
Editor: Ricka
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