CNSIG Inner Mongolia to acquire PetroChina Sinochem Alkali

CNSIG Inner Mongolia Chemical Industry announced plans to acquire PetroChina Sinochem (Inner Mongolia) Alkali Industry Co., Ltd. by agreeing to a capital reduction by Taihu Investment, currently holding 51% stake in PetroChina Sinochem Alkali. Following the reduction, CNSIG Inner Mongolia will hold 100% equity and consolidate the company's financials. PetroChina Sinochem Alkali Industry recently won rights to a natural alkali mining project in Inner Mongolia with a bid of CNY 680.0866 million. The acquisition of PetroChina Sinochem Alkali, which includes the mining rights, is deemed a major asset restructuring, requiring shareholder approval. Currently, CNSIG Inner Mongolia holds a 49% stake in PetroChina Sinochem Alkali, with a registered capital of CNY 40 million. The company aims to leverage the natural alkali resources for developing its soda ash business.