Hangzhou Oxygen intends to invest in the establishment of Xinjiang Oxygen Oxygen Gas Co., Ltd., Xinjiang Oxygen will be responsible for the implementation of "with 359 steel 2 × 20,000 cubic meters / hour gas project", mainly Xinjiang Alar 359 steel limited The company provides oxygen, nitrogen, argon and other gas products. It is estimated that the total investment of the construction project will be 295 million yuan, of which about 90 million yuan will be capital. In order to use funds rationally, the registered capital of Xinjiang Oxygen Oxygen Co., Ltd. at the time of its establishment was 55 million yuan, and the rest of the capital was increased according to the progress of the project.
In September this year, Hangzhou Oxygen signed the "Oxygen, Nitrogen, and Argon Supply Contracts" with 359 Steel. According to the agreement of both parties, Hangzhou Oxygen Co., Ltd. plans to invest a wholly-owned subsidiary Xinjiang Oxygen in the second industrial park of Alar, Xinjiang, and implement the 359 steel gas project through the company. Hangzhou Oxygen Co., Ltd. has invested in the construction of a 2×20,000 m3/h gas plant air separation plant to supply gas to the 359 steel. The first set of air separation equipment began to supply air on February 15, 2013, the second set. The air separation equipment began to supply air on February 15, 2014.
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