need investment of 50 million USD to set up a JV to producing seamless pipes with large diamamters

1.Project Category: Production of Special Steel Tubes

2. Undertaker: Jiangdu City Foreign Investment No. 1 Administration

3. Brief Introductions: Our local Steel Tube Company, mainly produces various types of carbon steel and alloy seamless steel pipe, sold worldwide in 46 countries and regions. The Corporation completed investment of fixed assets 1.5 billion yuan RMB, with annual production capacity of 500,000 tons of various steel pipes capacity. In 2008 the company achieved the output of nearly two billion yuan RMB.

4. Main Construction Contents: acquire the land of 50 hectares, absorb funds and technologies to develop special seamless steel tubes of large-diameter, wide group gap so as to broaden the product range and expand market share.

5. Total Investment and Expected Economic Benefits
Total investment: 50 million USD
Construction period: 2 years
Expected return period: 5 years

6. Cooperative Proposals and Schedule
Cooperation models: Joint venture, cooperation