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Xinjiang Jinte Iron & Steel Applies For Bankruptcy Reorganization
Jan 30, 2019

It's reported that the intermediate People's Court of Bayingol Mongolian Autonomous Prefecture in Xinjiang has accepted XinJiang Jiante Iron & Steel's applicetion for bankruptcy recorganization. Due to failure in repaying the debt of about RMB3.017 billion with its total assets of about RMB 2.432 billion and in order to activate its assets,Jinte Iron& Steel submitted the application to the court.

Jinte Iron & Steel owns a complete production system, including mining,dressing, pelletizing,sintering, ironmanking, steelmaking ,steel rolling and main processes of nodular cast iron pipe, as well as raw material supply, power supply,railway transportation,water treatment and other supporting facilities. Currently it mainly produces low-carbon hot -rolled wire rod,hot-rolled ribbed bar,hot -rolled plain round bar,rebar,centrifugal nodular cast iron pipe and so on.