Hongxiang Building Materials signs production line contract

Anhui Hongxiang Building Materials Co., Ltd., a wholly-owned subsidiary of Honglu Steel Construction, signed a memorandum of understanding for a production line project with China Construction First Group Construction & Development Co., LTD., Beijing Baihui Yixiang Science & Trade Co., Ltd. and Anhui Kunzhicheng Steel Structure Co., Ltd. The total contract value is tentatively set at RMB280,577,047 (USD41.90 million). Of this, the total raw material procurement volume stands at 55,332.29 tonnes, with a tentative total price of RMB215,949,896 (USD32.25 million) (tax inclusive); the steel structure fabrication contract is tentatively priced at RMB64,627,152 (USD9.65 million) (tax inclusive).