12 January 2012 09:28 [Source: ICIS news]
The joint venture will involve coal mining and chemical production, the source said, without elaborating.
Yibin Tianyuan will invest CNY74m for a 37% interest in the joint venture, while its subsidiary, Yibin Tianyi Special Resin, will hold a 15% interest. Nangang Group will hold a 40% stake and the remaining 8% will be held by Xinjiang Nongsishi State-owned Assets Investment, the source said.
The investment is part of Yibin Tianyuan’s plan to expand in the country, the source said. Xinjiang has abundant coal resources.
Yibin Tianyuan Group is a key chlor-alkali producer in southwest
($1 = CNY 6.31)
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