It is reported that Nippon Kobe Sheet Metal Industrial Co., Ltd has signed an agreement with Chengdu Kobe Steel Construction Machinery Co Ltd in Chengdu Economic & Technology Development Zone recently agreeing to jointly establish a new metal company under the name of Chengdu Kobe Sheet Metal Co Ltd which plans to start construction in February 2009 in Chengde Kobelco Group's expansion projects area. With total investments of USD 12 million and registered capitals of USD 5.7 million, the JV will come on stream in November 2009.

As per report, the new project has placed a solid floor for the Chengde-based Group to realize CNY 10 billion sales revenue. There are 4 supporting enterprises having been settled in CKCM Industrial Park at the moment, which are slated to complete construction and put into use by 2010, sending its sales revenue to break CNY 10 billion by then.

(Source: Sichuan Daily)