Thur,Mar10,2011
Angang Construction Consortium won a 710 million yuan contract from Russia's largest special steel factory, Chelyabinsk Iron and Steel Works, reports 163.com, citing a consortium filing.
The contract is to upgrade a 100-meter heavy rail production line, which requires 130,000 cubic meters of concrete, 16,000 tons of steel and 14,000 tons of banded steel. The upgrading will take eight months.
Angang Construction is the second largest state-owned steel supplier in China.
It established a joint venture with Stanko Group of the U.K. earlier and acquired USS Steel Processing Center through the joint venture.
Angang Construction won 950 million yuan worth of overseas contracts in 2010.
Shares of Angang Steel fell 1.23 percent to close at 8.06 yuan today.
(By Capitalvue)
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