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The registered capital of the joint venture company is 778 million yuan. Among them, the company invested 397.78 million yuan in cash, holding 51% of the shares; Chenggang Group invested 381.22 million yuan in the first-phase project's physical assets, land use rights, and the second-phase project's net assets in construction projects. 49%, the joint venture's financial and accounting statements were consolidated into the company.
Chenggang Group Coking Project has a production capacity of 600,000 tons per year for the first phase of the project; the second phase of the project will be completed and put into operation by the end of 2010, which will result in 1.1 million tons of production capacity. The joint venture will build a three-phase coking project when the conditions are ripe (the estimated production capacity is 2.1 million tons/year). After the completion of the third phase of the project, the total capacity of the Chenggang Group coking project can reach 3.8 million tons/year.
Kailuan shares and Chenggang Group co-production project
The Kailuan Shares Announcement stated that the company intends to cooperate with Chengde Iron & Steel Group Co., Ltd. for the first phase of the coking plant (2 4.3m top coke ovens) and the second coking project under construction (2 6-meter top coke oven is based on the joint investment to establish "Chengde Zhongyi Coal Chemical Co., Ltd.".