Ann: Investment and Co-Operation Agreement , page-10

Still dreaming?
So the spare land they had will not be used to increase capacity to 55K tpa then 105K tpa,as has been the plan but to build a semi coke plant..for Fengyan.
OK so they will complete the new 200ktpa semi coke crackers by May 2014. These are the guys that completed the 20K tpa Mg plant by December 2011, and mothballed it, giving investors numerous ridiculous excuses.
They claim Fengyan will buy all the semi coke. Next para they claim as a benefit of building this plant, CMC will not need to purchase coal for Mg production...huh??
One of the boasts CMC have is that the province has abundance of coal...why bother?
If CMC or SLMC ever produce Mg now as part of the deal,all the Mg will be sold to Fengyan networks in the international markets..so no local car manufacturing offtake agreements as previously claimed...only Fengyan buddies.
Fengyan will also buy ALL the tar oil.
Maybe CMC get some slightly cheaper power..maybe, maybe not?
Seems like Fengyan are pretty savy.
What happened to the FeSi plant, and the semi coke, magnesium operation they leased announced in September?
It would be a nice gesture to shareholders if they achieved something positive that actually made money...not fantasies.