---
title: "ANSTEEL's subsidiary and BSP jointly established a recycling resource company to assist in the integration and utilization of scrap steel resources"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/233763768.md"
description: "ANGANG STEEL announced the establishment of a joint venture with BSP to form a recycling resource company, with a total registered capital of 60 million yuan, of which Green Gold contributes 29.4 million yuan for a 49% stake, and BSP contributes 30.6 million yuan for a 51% stake. The new company will be located in Benxi City, Liaoning Province, and will primarily engage in the processing, sales, and recycling of renewable resources, aiming to integrate scrap steel resources in the Benxi area and enhance market competitiveness and profitability"
datetime: "2025-03-30T11:27:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/233763768.md)
  - [en](https://longbridge.com/en/news/233763768.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/233763768.md)
generator: "portal-rs"
---

# ANSTEEL's subsidiary and BSP jointly established a recycling resource company to assist in the integration and utilization of scrap steel resources

According to the announcement from ANSTEEL (00347), on March 28, 2025, the company's subsidiary, Green Gold, and BenGang Steel, which is indirectly controlled by Ansteel Group, signed a joint venture agreement regarding the proposal to establish a joint venture company in China.

According to the joint venture agreement, Green Gold will contribute RMB 29.4 million in cash, accounting for 49% of the total registered capital of the joint venture company, while BenGang Steel will contribute RMB 30.6 million in cash, accounting for 51% of the total registered capital of the joint venture company.

The joint venture company is proposed to be established in the Xihu District of Benxi City, Liaoning Province, and will mainly engage in the processing of renewable resources, sales of renewable resources, recycling of renewable resources, recovery of production waste metals, processing of non-metal waste and scraps, processing of metal waste and scraps, and processing, sales, warehousing, and distribution of waste steel and metal products.

As scrap steel is an important raw material for steel production, Green Gold, through the joint venture company, will integrate scrap steel resources in the Benxi area, which will help quickly establish regional resource integration channels and strengthen the overall control capability of scrap steel resources in the Liaodong region, thereby enhancing Green Gold's market competitiveness and profitability

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**