The contract for the casting and forging project to be constructed by Sinosteel MECC and Minsheng Financial Leasing Co., Ltd in the form of financial leasing in Sinosteel Hengzhong Park was officially signed on May 8th, 2009. The contract signing ceremony was presided by Mr. Gong Jingsheng, Vice General Manager of Sinosteel and an important speaking was addressed by Mr. Liu Andong (Vice General Manager of Sinosteel Co., Ltd) on behalf of Sinosteel Group and Sinosteel Co., Ltd. Mr. Lu Pengcheng, General Manager of Sinosteel MECC, Mr. Zhang Yaoming, General Manager of Sinosteel Heavy Machine Co., Ltd, and Mr. Yang Xinjun, General Manager of the Business Department of Minsheng Financial Leasing Co., Ltd singed the contract on half respective party.

The casting and forging project in the Sinosteel Hengzhong Park is one of major projects to be built in this park. According to the contract, Sinosteel will construct 100t EAF + 100t LF, 30t EAF + 40t LF, caser and relevant utilities for Sinosteel Heavy Machine Co. Ltd. After this project is completed, it will greatly increase the production scale and market competitiveness of Sinosteel Heavy Machine Co. Ltd for high quality and large cast steel parts.

The cooperation on the casting and forging project in the Sinosteel Hengzhong park marks a transform of Sinosteel Heavy Machine Co. Ltd and Sinosteel MECC from the single product sale cooperation into multiple business cooperation, which will provide a better cooperating foundation for both parties on the contract of metallurgical and mining projects and the supply of package equipment. The contract signing for this project is an important step for Sinosteel MECC and Sinosteel Heavy Machine Co. Ltd to develop the cooperative operation and express the entirety advantages of Sinosteel. Meanwhile, it is also the important measure for Sinosteel MECC to actively counter the financial crisis, create the new management mode, establish the new cooperation relationship between bank and enterprise.