OREANDA-NEWS. December 30, 2013. The 4th meeting of the 15th Board of Directors of China Steel Corporation (CSC) was held.

Major items of the agenda adopted were:

1. To provide Roy Hill Holdings with shareholder loan facility

According to the approval of the 12th meeting of the 14th Board Directors that was held on March 21, 2012, CSC’s 100% own subsidiary CSC Steel Australia Holdings Pty. Ltd. (CSC SAH) invested 2.5% share in Roy Hill Holdings Pty. Ltd. (RHH) for AUD 305.2 million. At the board meeting on December 18, 2013, a resolution was passed to provide RHH USD125 million loan in the form of preferred stock subscription. This loan is reserved and is used only in case of cost over-run of the project.

2. Establishment of Wind Farm Business Development Committee

In order to develop wind farm business, extend CSC Group’s green energy development strategy and respond to government’s policy on energy and sustainability, the board approved to revise CSC’s organization by establishing a “Wind Farm Business Development Committee” under the president of CSC. The Committee will consist of three departments: Wind Farm Business Department, Wind Farm Construction Department and Wind Farm Technology Department, which will be responsible for planning and execution of CSC Group’s wind farm business, engineering and technologies. Such establishment will promote nation-wide wind mill production, maritime installation and construction, operation and maintenance.