US plans to proceed
Source: Xinhua |
August 21, 2010, Saturday
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Print Edition
Print Edition
CHINESE steel maker Anshan Iron and Steel Group, or Ansteel, yesterday vowed to proceed with plans to invest in the United States, a day after a senior executive reportedly said it would suspend the deal in the face of US political objections.
"Angang has never changed its mind in investing in the US. We will push forward the steel project with our US partner," the company said in a statement. "Some reports said Angang will shelve or give up plans to invest in a US steel plant, but this is not the case."
Chen Ming, vice chairman of Angang Steel Co, the listed arm of Ansteel, was reported as saying in Hong Kong on Thursday that Ansteel had decided to put its investment plan on hold because of US lawmakers' opposition.
"Angang has never changed its mind in investing in the US. We will push forward the steel project with our US partner," the company said in a statement. "Some reports said Angang will shelve or give up plans to invest in a US steel plant, but this is not the case."
Chen Ming, vice chairman of Angang Steel Co, the listed arm of Ansteel, was reported as saying in Hong Kong on Thursday that Ansteel had decided to put its investment plan on hold because of US lawmakers' opposition.
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