After several months of painstaking negotiation, also with concerted effort by both sides, on the morning of January 18, 2006, SINOSTEEL MECC officially signed the contract of 265 m² sintering project with Xinjiang Bayi (Group) Corp. by the BT way. The contract price is worth of 260 million RMB with 11 months of construction period.

265m² sintering machine project is the key project of 11th Five Year Plan of Xinjiang Bayi (Group) Corp, and has been initiated with priority. The project will help to improve the raw material properties and to reduce the power consumption, and will be meaningful to the quality improving of their products. In this case, the project is of great importance to Xinjiang Bayi’s future expansion work. SINOSTEEL MECC also extends its root deep into the northwest China in response to the call from our country to develop Northwest China. Whether the project will be successfully accomplished is also significant for SINOSTEEL MECC to consolidate its market share on this new land. In this case SINOSTEEL MECC focused its strongest forces in terms of both human resources and funds on this project. Bayi project group has been established ever since the official signing of the contract, and will try to achieve another victory in its long proud records.