Pangang Steel and Vanadium announced on July 15 a new capital injection plan that will invest 8.49 billion yuan in Panzhihua Steel and Vanadium Co Ltd, 4.71 billion yuan in Chengdu Steel and Vanadium Co Ltd and 1.10 billion yuan in Jiangyou Special Steel Company, all in the form of net assets concerning iron, steel, vanadium, steel rolling, coking, special steel plants, rail, pipe making, wire rod mills, power stations, scrap processors, logistics and service centers, railway and road transportation divisions, trade houses and mining assets. The company also warned a first-half loss of 1.3 to 1.4 billion yuan in the announcement.