July 05, 2008

Sino Steel to be listed in this year

It is reported that China’s largest trader Sino Steel is planning to list this year.

According to Mr Huang Tianwen president of Sino Steel Group, Sino Steel plans to be listed within 2008. Sino Steel will also strengthen mineral resources exploitation and build the whole industrial chain which provides services to iron and steel enterprises.

Mr Tianwen indicated that Sino Steel Group is now constructing projects in many countries including India and Turkey. He added that the annual income in Sino Steel in 2003 was CNY 13 billion, while the income in 2007 was CNY 120 billion. Profits in 2007 and in 2003 were CNY 3 billion and CNY 200 million respectively.