Chinese Environmental and New Material Companies Partner to Produce 500,000 Tons of Premium Alloy in USD640 Million Contract
Yicai Global
/SOURCE : Yicai
Chinese Environmental and New Material Companies Partner to Produce 500,000 Tons of Premium Alloy in USD640 Million Contract

(Yicai Global) June 27 -- Shenwu Energy Saving Co., Ltd., a Liaoning-based environmental engineering company (SHE000820), entered into a contract with a new material company to provide 500,000 tons of premium alloy per year, in a deal worth CNY4.38 billion (USD640 million).

Shenwu Energy Saving's wholly-owned subsidiary Jiangsu Provincial Metallurgical Design Institute Co., Ltd. recently entered into a contract with Guangxi Jingshenglong New Material Technology Co., Ltd. to provide 500,000 tons of high-end premium alloy per year. The company will be responsible for the equipment purchasing and engineering construction of the project, including nickel and chromium alloy production lines.

Guangxi Jingshenglong is a company specializing in the development and promotion of new materials, energy-saving and environmental protection technologies. Last November, it entered into a design contract with Jiangsu Provincial Metallurgical Design Institute concerning the project, in a CNY98 million (USD14.32 million) deal. Shenwu Energy Saving announced that performance of the contract will have a positive impact on its operational results in 2017.

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Keywords: New Material , Contract , Income