Gansu "Changtong Cable" declares bankruptcy, factory site to be auctioned. Recently, the Baiyin City Industry and Information Technology Commission, Baiyin City Land Resources Bureau, and the bankruptcy administrator of Gansu Changtong Cable (Group) Co., Ltd. (hereinafter referred to as "Changtong Cable") jointly announced that today they will publicly transfer to society the state-owned construction land use rights, real estate, and above-ground attachments of the Changtong Cable factory site. This announcement signifies the formal exit from history, in a bankruptcy manner, of this once-renowned cable enterprise which relocated from Shanghai in 1965. It is reported that among the assets to be transferred by Changtong Cable, the valuation of the land alone has already exceeded 5 billion yuan. The total area of these lands, developed after 2013, is nearly 380 mu, possibly for commercial and residential development.
Recently, Future Four Directions Group Auction Co., Ltd. released a property transfer (auction) announcement, stating that it was commissioned by the Baiyin City Industry and Information Technology Commission, Baiyin City Land and Resources Bureau, and Changtong Cable bankruptcy administrator, according to the "People's Republic of China State-Owned Assets Law", "People's Republic of China Land Management Law", and relevant regulations, to publicly transfer to society the state-owned construction land use rights, real estate, and above-ground attachments of the Changtong Cable factory site.
It is understood that all the Changtong Cable lands involved in this auction transfer are located in Baiyin District, Baiyin City. The factory site has a total state-owned construction land use right of 253,666.4 square meters, approximately 380.4996 mu. The transfer targets include 10 plots of state-owned construction land use rights and their ground buildings. The two largest plots cover an area of 42,678.8 square meters and 41,973.5 square meters respectively, while the three smallest plots are 6,163.5 square meters, 7,452.5 square meters, and 8,087.4 square meters respectively. The remaining five plots vary in size from 19,805.9 square meters to 34,350.5 square meters. The land development time is after January 1, 2013.
According to the announcement, the registration for bidding will end on August 29. Yesterday, the reporter learned from Four Directions Auction that the public transfer of the Changtong Cable factory site land, divided into 10 plots, may proceed at the end of this month after the registration period ends.
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