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China's Baosteel More Than Doubles Investment in Saudi Steel Plate JV
Express News | Baoshan Iron and Steel to Change Financing Collateral Principal for the Jv to $1.1 Billion From $1.3 Billion
Express News | Baoshan Iron and Steel to Raise Investment in a Steel Plate Joint Venture in Saudi Arabia to $1 Billion From Around $437.5 Million
Baoshan Iron & Steel (600019.SH): plans to adjust the contribution of Saudi thick plate company to 1 billion US dollars.
On July 25th, Gelunhui reported that Baoshan Iron & Steel (600019.SH) announced that the investment plan for setting up a Saudi thick plate company with Saudi Aramco and the Saudi Public Investment Fund (PIF) has changed. The original plan was that Baoshan Iron & Steel would invest 1.640625 billion riyals or other equivalent currencies (equivalent to approximately 437.5 million US dollars or approximately 3.00475 billion yuan), holding 50% of the equity of the joint venture; Saudi Aramco invested 820.3125 million riyals or other equivalent currencies, holding 25% of the equity of the joint venture.
Nippon Steel Pulls Out of JV With Baoshan Iron & Steel
Nippon Steel Agrees To Withdraw From Joint Venture With Baoshan Iron & Steel In China
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