SHANGHAI?Sichuan Hongda Co. said on Thursday it has halted work on a $1.6 billion copper alloy plant in southwest China after violent protests erupted, adding that the move will have an impact on earnings.
The company's shares tumbled as much as 7% at one point on the Shanghai exchange on Thursday after losing 9.2% on Wednesday. The local government in Shifang in Sichuan province ordered a stop to work on the molybdenum-copper facility after police used tear gas and stun grenades to quell violent clashes with angry protesters worried about potential pollution.
"As of now, construction on the facility has ...
SHANGHAI?Sichuan Hongda Co. said on Thursday it has halted work on a $1.6 billion copper alloy plant in southwest China after violent protests erupted, adding that the move will have an impact on earnings.
The company's shares tumbled as much as 7% at one point on the Shanghai exchange on Thursday after losing 9.2% on Wednesday. The local government in Shifang in Sichuan province ordered a stop to work on the molybdenum-copper facility after police used tear gas and stun grenades to quell violent clashes with angry protesters worried about potential pollution.
"As of now, construction on the facility has ...
Source: http://online.wsj.com/article/SB10001424052702303962304577507732210853456.html?mod=rss_about_china
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