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Valin Steel and Subsidiary to Receive RMB 162 Million in Tax Rebates

Resource from:  CBCC Likes:102
Jul 29,2013
Hunan Province-based Chinese steelmaker Hunan Valin Iron and Steel Co. has announced that for the period from August 1, 2011 to May 31 this year it has received approval for a tax rebate valued at RMB 106.56 million (USD 17.36 million) on electricity generated by waste heat and waste blast furnace gas from its steel production process. In addition, the company's subsidiary Valin LY Steel Co. has been approved for a tax rebate for the period from August 1, 2011 to June 30 this year totaling RMB 55.59 million ($9.05 million), also on electricity generated by waste heat and waste blast furnace gas from steel production. The tax rebates in question will be included in the third quarter revenues of both companies
(CBCC)
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