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Tianjin's new steel group gets 100b yuan credit
Published on: 2010-07-27
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Tianjin Bohai Iron & Steel Group Corp, which has just finished its restructuring, received a large credit of 100 billion yuan ($14.75 billion) from eight banks last week, the China Business News reported Monday.

The eight banks include Tianjin City Commercial Bank and the Tianjin branches of Bank of China, China Construction Bank, China Merchants Bank, Bank of Shanghai, Industrial Bank, China CITIC Bank and Hua Xia Bank.

Tianjin Bohai Iron & Steel Group Corp was established on July 13, comprising Tianjin's four State-owned steel enterprises.

The newly established group has a total capacity of more than 24 million tons, ranking among the top 10 in the country, the report said.

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