Jinxi Steel Group got USD 550mln finance overseas Sept 3 MetalBiz—Recently, the international investment bank--Deutsche Bank and ING Bank issued USD 550mln debenture staked by China Oriental Group successfully. Currently, the debenture has been listed on Singapore Stock Exchange market. Han Jingyuan, the president of China Oriental Group’s board of directors, introduced that the fund is mainly used for the new products development and energy-conservation and emission-reduction of Jinxi Steel Corp, besides, it would also been used for the consolidation of the steel industry. The successful move of China Oriental Group provided the sufficient cash for the product updating and the expansion of the upstream industry of Jinxi Steel Group. It also laid a solid foundation for the new development of the group.
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