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China : PINGMEI SHENMA, WISCO establish second JV.

Pingmei Shenma Group, based in Henan Province has formed another JV with Hubei Province-based Chinese steelmaker Wuhan Iron and Steel (Group) Corp. (WISCO).

The new JV called Zhongping Echeng Integrated Coking Co. will principally generate coke, coke oven gas, coal tar and other related products, with an annual production capacity of coke totaling 2.2 million mt.

Pingmei Shenma Group is one of the key energy providers of WISCO, whilst WISCO has turn out to be Pingmei Shenma Group s second-largest shareholder.

Both the firms in June 2008 formed their first joint venture, Pingmei WISCO Integrated Coking Co., which has an annual coke output capacity of 7 million mt.

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Publication:Mena Report
Date:Mar 5, 2013
Words:122
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