Joint Ventures of Baosteel and Pindingshan Coal Co. Ltd. Established

July 8 witnessed the unveiling ceremony of Henan Pingbao Coal Co. Ltd. and Shanghai Baoding Energy Co. Ltd.-jointly established by Baosteel and Pingdingshan Coal Co. Ltd. The event marked the cooperation between the two sides has turned to a new page. Li Chengyu, nomarch of Henan province and Xie Qihua, chairwoman of Shanghai Baosteel Group Corporation unveiled the plates.

Shi Jichun, vice nomarch of Henan province, Cheng Jiansheng, chairman of Pindingshan Coal Co. Ltd., Chang Jianhua, president of Pindingshan Coal Co. Ltd. and He Wenbo, vice president of Shanghai Baosteel Group Corporation attended the unveiling ceremony.

Pindingshan Coal Co. Ltd. has produced 0.6 billion tons of merchandise coal during 40 years of its operation. It is ranked among the state key construction projects of large-sized coal base. The Group has been cooperating with Baosteel for more ten years, and at present it supplies more than 1.2 million tons of coal to Baosteel every year. Baosteel and Pingdingshan Coal Co. Ltd. signed a letter of intent of strategic cooperation in Zhengzhou on Oct. 31 last year.

The main businesses of Pingbao Coal Co. Ltd. established this time include coal exploitation, transportation and distribution, manufacturing of mechanical equipment, construction material, electronic products, sales of communication equipment; the main businesses of Baoding Energy Co. Ltd. include coal, coke, fuel chemical industry, construction material, iron and steel law material, steel products, mine facilities and material.