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Chongqing Steel (601005.SH) gets subsidized loans

BEIJING
2015-11-09 10:52

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Chongqing Iron and Steel Co. (601005.SH) on late Friday said it had been granted 51.8 million yuan in loans with discounted interests for lowering its financial burdens after removal.

The southwest China-based steelmaker was relocated for environmental concerns. Chongqing Steel earlier reported 3.2 billion yuan losses for the third quarter of this year.

The company expects the subsidized loans to improve its annual performance for the whole year.

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