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Chalco to add CNY 155 million funds in Xinyugou Coal
Edited by : AL CIRCLE
1 min read
SinoCast Daily Business Beat via Comtex reported that Aluminum Corporation of China Ltd intended to adjust equity structure of Shanxi Jiexiu Xinyugou Coal Corp and its holding subsidiaries.
According to the announcement, the company will increase its investment from original CNY 537 million to CNY 692 million, injecting CNY 155 more capital into Xinyugou Coal. Chalco issued an announcement on October 27, 2010, saying it planned to set up Xinyugou Coal with Shanxi Aluminum Plant with the company itself providing CNY 537 million fund.
During preparations for the Xinyugou Coal project, concerning parties adjusted equities in Xinyugou Coal and its holding subsidiaries according to Shanxi province requirements on coal resources integration.
Stakes held by the company remained unchanged after the adjustment, still being 34%. Those owned by Jiexiu Luxin Coal Gasification Co Ltd increased to 51% from original 40% and those owned by Shanxi Aluminum Plant decreased from original 16% to 15%. The original natural person shareholders were cancelled.
According to the announcement, the company will increase its investment from original CNY 537 million to CNY 692 million, injecting CNY 155 more capital into Xinyugou Coal. Chalco issued an announcement on October 27, 2010, saying it planned to set up Xinyugou Coal with Shanxi Aluminum Plant with the company itself providing CNY 537 million fund.
During preparations for the Xinyugou Coal project, concerning parties adjusted equities in Xinyugou Coal and its holding subsidiaries according to Shanxi province requirements on coal resources integration.
Stakes held by the company remained unchanged after the adjustment, still being 34%. Those owned by Jiexiu Luxin Coal Gasification Co Ltd increased to 51% from original 40% and those owned by Shanxi Aluminum Plant decreased from original 16% to 15%. The original natural person shareholders were cancelled.
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