Recently, "Tacheng Star Cement Manufacturing Co., Ltd. Restructuring Investor Recruitment Announcement" was officially released.
The announcement said that Tacheng State-owned Assets Investment and Management Group Co., Ltd. (Hereinafter referred to as "Tacheng State Investment Corporation") could not pay off the debts due to Tacheng Star Cement Manufacturing Co., Ltd. (Hereinafter referred to as "Star Cement Company" or "Debtor") and obviously lacked the ability to pay off the debts due to the application for bankruptcy of Star Cement Company in 2023. On February 1, 2024, the People's Court of Tacheng City accepted the bankruptcy liquidation application of Hengxing Cement Company with the Civil Ruling (2023) Xin 4201 Po Shen No.3, and appointed Beijing Yingke (Urumqi) Law Firm as the administrator with the Decision (2024) Xin 4201 Po No.1. After the debtor applied for reorganization, the People's Court of Tacheng City decided to reorganize the Star Cement Company from September 1, 2026 with a civil ruling of (2024) New 4201 No.1.
Due to the lack of liquidity and debt repayment funds of the debtor Star Cement Company, it is urgent to introduce restructuring investors to achieve the goal of restructuring. By reorganizing the advantages of investors in capital, management, market and resources, we can solve the debt crisis of debtors, integrate enterprise resources, maintain the value of enterprise operation, realize the rebirth of enterprises, and protect the legitimate rights and interests of creditors. The administrator is now open to the whole country to recruit reorganization investors. In order to clarify the principles, conditions and procedures of recruitment, this recruitment announcement is hereby made. According to
the data, Star Cement Company is the first industrial aid project implemented after the central government decided to pairing assistance Tacheng area of Xinjiang in Liaoning Province in 2010. The project was approved by the Development and Reform Commission of Xinjiang Uygur Autonomous Region in 2011 as an approved production project with a capacity of 1 million tons (which can actually produce 1.2-1.4 million tons). It is the only approved cement production project in the past 10 years. Due to the requirements of the overall layout of industrial development in Xinjiang and the limitation of production capacity in Tacheng area, only one cement plant of Star Cement Company has been approved within a radius of 300 kilometers, and there are no other cement manufacturers around it at present, especially with the gradual upgrading of environmental protection requirements in the whole country and region. Star Cement Company will become the only large-scale cement manufacturer in the region for a long time in the future. On December 7,
2020, the State Council approved the establishment of Tacheng Key Development and Opening Experimental Zone in Xinjiang, becoming the ninth and only key development and opening experimental zone in Northwest China. The state plans to build Tacheng into a new Silk Road city with economic prosperity, beautiful ecology, livability and livability in 10 years. Promote the high-quality development of "the Belt and Road". On January 20, 2023, the CPC Central Committee and the State Council approved the establishment of a county-level city, Baiyang City, which is geographically adjacent to the Star Cement Company. The Star Cement Company has obvious geographical advantages. According to the preliminary market research, the key development and opening pilot area of Tacheng, Baiyang City, Tacheng City and its surrounding counties and cities, as well as the overseas market of Kazakhstan, are sufficient to meet the grinding station of the Star Cement Company. There is a huge demand for building materials in the real market, and trade cooperation with neighboring countries will deepen, promote the export of cement and expand the international market. There are abundant fly ash resources of heat source plants in Tacheng area of
Xinjiang and the regiments of the Ninth Division of the Corps, which are also indispensable main and auxiliary materials for the grinding station of Star Cement Company. Shawan City of Tacheng area and the Eighth Division of the Corps have a number of by-product solid waste "micro-silica fume" produced by large-scale silicon smelting. It is also a high-quality admixture for high-grade cement and high-strength concrete in the grinding station of Star Cement Company. However, the silica fume market in the mainland is very tight and the price is very high. The local price in Xinjiang is cheap and the resources are abundant, which can turn waste into treasure.
If Star Cement Company is injected by investors and put into operation smoothly, it can not only effectively solve the supply and demand of cement in the local Tacheng market, save the cost of purchasing and transportation for customers, but also ensure the timely supply of cement, and provide more employment opportunities for local residents, which can absorb more than 300 employees after putting into operation. It can rapidly stimulate local economic growth. As the only approved million-ton cement production project,
Star Cement Company has obvious regional monopoly advantages, and has high restructuring value after injecting funds, repairing assets and integrating regional resources.
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