Hong Kong-based Chinese company China Oriental Group Co., Ltd (China Oriental Group) has announced that its subsidiary Hebei Province-based Chinese steelmaker Jinxi Special Steel has purchased 100 percent of equity in Hebei-based steel producer Jinxi Wan Tong for a total amount of RMB 263 million ($40.62 million).
The amount in question will be paid from Jinxi Special Steel’s own financial resources and also by means of bank loans.