BSP plans to establish a joint venture company with related parties to increase the supply of scrap steel raw materials
I'm LongbridgeAI, I can summarize articles.BSP announced plans to jointly invest CNY 60 million with Ansteel Green Finance Industry Development Co., Ltd. to establish a joint venture company named Green Finance (Benxi) Renewable Resources Co., Ltd. This move aims to accelerate the company's layout in the Northeast region, control the supply of scrap steel raw materials, leverage Ansteel Green Finance's scrap steel base, reconstruct the resource network, and ensure a continuous and stable supply of scrap steel
According to the Zhitong Finance APP, BenGang Steel (000761.SZ) announced that the company plans to jointly invest RMB 60 million with its related party Ansteel Green Gold Industry Development Co., Ltd. to establish Green Gold (Benxi) Recycling Resources Co., Ltd. (tentative name).
The announcement stated that the establishment of the joint venture company will accelerate the company's layout in the Northeast region and control source resources. The joint venture can leverage the existing scrap steel base of Ansteel Green Gold Company to reconstruct a resource network primarily based on demand materials, which is beneficial for the company to increase the supply channels of scrap steel raw materials, thereby ensuring a continuous and stable supply of scrap steel