BEIJING, Oct 16, 2013 (Menafn - SinoCast Daily Business Beat via COMTEX) --Zongshen Industrial Group planned to invest USD 100 million buying a ferrotitanium mine in Kokang, Burma, the first purchase of an overseas mine by Chongqing's motor giant.
Zongshen last year signed a framework agreement with a Kokang-based mineral company to co-develop the mining industry. This acquisition negotiation is close to an end recently. The total investment of about USD 100 million will be made in three phases and the phase 1 of USD 30 million will be launched this year at fastest.
source: MENAFN
http://www.menafn.com/4bc8351c-3b02-4b53-a26c-d0ccae22b404/Zongshen-to-Invest-USD100mn-in-Burma-Mine?src=main
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