InfoAnda - China's Ansteel says it is committed to US deal

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China's Ansteel says it is committed to US deal AFP - Saturday, August 21 Send IM Story Print China's Ansteel says it is committed to US deal BEIJING (AFP) - – China's Anshan Iron and Steel Group said Friday it remained committed to an investment deal with a US steel mill, a day after a senior executive said the plan had been shelved. "AnSteel is committed to working closely with our US partners to move forward with the SDC (Steel Development Company) project," the company, also known as Ansteel, said in a statement, according to Dow Jones Newswires. State-run Ansteel, one of China's top steelmakers, signed an agreement with the Mississippi-based company in May that includes construction of five plants in the United States. It issued the statement after Chen Ming, vice chairman of Angang Steel Co Ltd, the listed subsidiary of Ansteel, said Thursday the company would shelve its plans in the United States due to opposition from US lawmakers. But Fu Jihui, secretary of the Angang board, said Friday that Chen's comments were "misunderstood," according to Dow Jones. He confirmed Chen said the deal had been "shelved," but said "that was not his intended meaning." "I am sure the deal won't be delayed and it will advance as the parent company planned," Fu said. Fifty US legislators have sent letters to President Barack Obama and Treasury Secretary Timothy Geithner urging them to investigate the deal, arguing the investment threatened US jobs and national security. Officials at Ansteel and the listed unit were not available to comment when contacted by AFP. Chinese government officials have repeatedly called on the United States to treat its companies "fairly" and not "politicise" the deal. Sino-US relations have been strained this year over a range of economic and trade issues, including the value of the Chinese currency and Google's spat with Beijing over censorship. Recommend Send IM Story Print Related Articles Zain Saudi floats capital restructuring plan Reuters - 32 minutes ago Indian panel deals 'new blow' to Vedanta mine plan AFP - 43 minutes ago India NALCO issues 30,000 T alumina tender-Co source Reuters - 1 hour 38 minutes ago Rio Tinto makes changes in China: CEO AFP - Saturday, August 21 Taiwan president's ratings fall on local concerns-poll Reuters - Saturday, August 21 News Search Top Stories UK Labour leadership candidate ridiculed by press Israel, Palestinians to resume direct talks Dutch teen set to depart Portugal for solo sailing bid Unchecked migration would see Singapore swell, Haiti halve France slashes 2011 growth forecast More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Unchecked migration would see Singapore swell, Haiti halve More Americans say Obama is Muslim Scientists challenge US optimism on oil spill damage Partner says BP hiding oil spill documents US jobless claims jump to 500,000; nine-month high More Most Viewed » Obama endorses mosque plan near Ground Zero 40 US billionaires pledge half wealth to charity Visitors attack Taiwan 'haunted house' actors Massive ice island breaks off Greenland glacier Belgian man dies of South Asian superbug More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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