Tidfore Heavy Equipment Group collaborated with Jiangsu Rongxing Weiye another time and signed a general contract worth 680 million yuan in Xiangshui county, Jiangsu province on May 14.  On behalf of both parties’ legal person, Chen Mingjie, general manager of Domestic Marketing Department of Tidfore, and Xie Qin, vice general manager of Jiangsu Rongxing Weiye New Material Co., Ltd., signed the contract.


As Mr. Xie put, “Apart from its remarkable technological strength, Tidfore’s ability in providing rapid, safe and effective financial service further strengthened our confidence in future cooperation.” Tidfore helped and supported Rongxing Weiye in solving financial matter by taking advantage of its own strength and tailored a service program on financing. The signing of this contract further enhanced mutual trust between the two parties and also manifested RongXing Weiye’s confidence in Tidfore.


Rongxing Weiye has invested approximately four billion yuan for the five-million-ton reduced iron project. The company mainly utilizes such recycled reduced iron as low-grade iron ore and titanic magnetite by importation. Its annual processing capacity of magnetic iron ore can reach 10 million ton and it is capable of recycling five-million-ton reduced iron briquetting and utilizing tailings to fabricate 6,500,000 m3new building materials.