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Project of steely Xiangtan stainless steel did not start Hua Ling
From;    Author:Stand originally
Be aimed at concerned report, iron and steel of China water chestnut issues announcement now, wait for what item undertakes at present to be intentional agreement with the ground about construction of stainless steel project, be not project of the stainless steel that start.

On September 19, 2008, media coverage says: Government of Xiangtan county people and iron and steel of China water chestnut accuse share company Hunan steely limited company of Xiangtan of China water chestnut (the following abbreviation " steel of Hua Ling Hunan " ) signed strategic cooperation agreement, steel of Hunan of China water chestnut will invest 9 billion yuan in Xiangtan county, cast build product line of 700 thousand tons of stainless steel and project of product line of pipe of straight seam welding, predicting annual produce amounts to 13 billion yuan of above, year achieve revenue 1 billion yuan of above.

Announcement weighs iron and steel of China water chestnut now, on September 18, 2008, steel of Hunan of China water chestnut and government office of civil administration of Xiangtan county person signed book of strategic collaboration intent, this intent book agrees, examine and approve in project of prospective stainless steel, after the relevant condition such as land commandeer is contented, predict 9 billion yuan to build investment, the stainless steel project that produces per year 700 thousand tons is in Xiangtan prefectural commandeer land. Intent bookmark is ordered and examine and approve in the project after waiting for relevant formalities to finish, both sides should establish special team to begin early days work as soon as possible, strive to signed formal agreement 2009.

The company shows, this intent book uses the item such as the ground to have intentional agreement with respect to construction of stainless steel project only, to will come of stainless steel project carry out do pre-construction, be not project of the stainless steel that start.

Project of this stainless steel needs to refer company board of directors, partner to congress is examined and approve and be approved about the government sector, but at present company board of directors had be notted make to project of this stainless steel any decision-making, and won't make to this project inside year decision-making. This item still is put in major uncertainty.

Announcement still emphasizes, in intent book is only about investment amount data in afore-mentioned reports, agree beforehand estimate figure. The annual produce that alludes in the report reachs the content of year of agreement in achieving taxation data to be not intent book, because stainless steel project reachs concerned investment item to still lie to plan stage intentionally, put in a certain number of not certain factors, the annual produce that the company never also involves to its and year achieve taxation data to had undertaken calculating. Wait for this investment to the condition matures related the project and refer a board of directors to discuss after passing, the company will unite exposure again relevant data. (Origin: Newspaper of Chinese negotiable securities)
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