Baoshan Steel to Invest $1.3 Billion in Natural Gas Pipeline
10/31/2012 - Baoshan Iron & Steel Co., China’s biggest publicly traded steelmaker, will invest 8 billion yuan (US$1.3 billion) in a natural-gas pipeline as overcapacity and higher raw material costs squeeze its profit margins for steel.
Baoshan Iron & Steel Co., China’s biggest publicly traded steelmaker, will invest 8 billion yuan (US$1.3 billion) in a natural-gas pipeline as overcapacity and higher raw material costs squeeze its profit margins for steel.
The company will own about 13 percent of China National Petroleum Corp.’s third pipeline project, which will link the Xinjiang region in the nation’s west with Fujian province in the east, according to a statement to the Shanghai stock exchange yesterday. China National Petroleum, the parent of PetroChina Co., is a key client of Baoshan...
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