CONSTRUCTION CONTRACT

Exhibit 10.1

No.: XQ-IV0510D30

Construction Contract

Engineering No.: Reform 22-4 (03)

Engineering Name: Fire System in 2150ASP Hot Continuous Rolling Engineering of

Anshan Iron & Steel Group Corp.

Contract-issuing Party: Anshan Iron & Steel Group Corp.

Contractor: Sureland Industrial Fire Safety Co., Ltd.

Contract-signing Date: Oct. 2005

Party 1 Agreement

Legal Person (Full Name): Anshan Iron & Steel Group Corp.

Legal Person (Full Name): Sureland Industrial Fire Safety Co., Ltd.

In accordance with Contract Law of the People’s Republic of China, Construction Law of the People’s Republic of China, other relevant laws and administrative regulations, and following the principle of equality, fairness, honesty and credibility, both parties have reached assent on the construction work, and then concluded the contract.

I General Situation of the Engineering

Engineering No.: Reform 22-4 (03)

Engineering Name: Name: Fire System in 2150ASP Hot Continuous Rolling Engineering of Anshan Iron & Steel Group Corp.

Engineering Site: In Anshan Iron & Steel Plant

Design Unit: Sureland Industrial Fire Safety Co., Ltd.

Unit with Property Right: Hot-rolled Strip Steel Plant of Anshan Iron & Steel Group Corp.

Quality Evaluation Department: Quality Surveillance Station for Engineering of Anshan Iron & Steel Group Corp. of Metallurgy Bureau

Engineering Content: Fire system in 2150ASP hot continuous rolling engineering of Anshan Iron & Steel Group Corp., including design modification and acceptance inspection cost (see technical appendix)

II Engineering-contracting Scope

Design, equipment assembly, engineering implementation, acceptance inspection and other contents in the engineering scope regulated in the technical appendix

III Contract Time Limit

The absolute time limit of installing and debugging (75 days)

IV Quality Standard

Engineering quality standard: conformity rate is 100%, and excellent rate is more than 80%

V Contract Price

Amount: (in capital) twenty three million only (RMB)

¥: 23,000,000

VI Document Composing the Contract

The documents composing the contract include:

 

1.	Contract agreement

 

2.	Notification of award

 

3.	Bid document and its appendices

 

4.	Special articles of the contract

 

5.	General Articles of the contract

 

6.	Standards, codes and relevant technical documents

 

7.

Drawings

 

8.	Engineering quantity list

 

9.	Engineering quotation or budget statement

Both parties’ written agreements or documents about engineering negotiation and change, etc are the necessary parts of the contract.

VII The meanings of relevant words in the agreement are same with those in the part 2 of the contract (general articles).

VIII The contractor promises the contract-issuing party to construct and complete the engineering in accordance with the contract, and assume the responsibility of maintenance in the guarantee period of engineering.

IX The contract-issuing party promises the contractor to pay the contract price and other payables in accordance with the time limit and mode regulated in the contract.

X Execution of Contract

Contract-concluding place: Technical Reform Department of Anshan Iron & Steel Group

The contract will go into effect after signed and sealed by both parties.

Part 2 General Articles

4. Completion of the Engineering

4.1 The contractor must complete the engineering based on the date of completion in the agreement or the postponed time limit approved by engineers.

4.2 The contractor should assume the liabilities for breach of contract if he cannot complete the engineering based on the date of completion in the agreement or the postponed time limit approved by engineers due to him.

4.3 If it’s necessary for the contract-issuing party to complete the engineering in advance, both parties should sign the agreement about advance completion after reaching assent as a part of the contract. Besides, the agreement about advance completion should include the measures took by the contractor to guarantee engineering quality and safety, the conditions provided by the contract-issuing party to complete in advance, and the additional contract price required for completing in advance, etc.

5. Engineering Quality

5.1 The engineering quality should reach the quality standard regulated in the agreement, which is evaluated based on national or industrial quality inspection

standards. The contractor should assume the liabilities for breach of contract if the engineering quality cannot reach the appointed quality standard due to him.

26. Payment of Engineering Fund (Progress Fund)

26.4 Under conditions that the contract-issuing party does not pay the engineering fund (progress fund) in accordance with the contract, and both parties cannot reach the agreement about deferred payment, so that the engineering cannot be constructed, the contractor can stop the construction, and the contract-issuing party should assume the liabilities for breach of contract.

33. Completion Settlement Price

33.3 If the contract-issuing party has not paid the completion settlement price without fair reasons in 28 days after receiving completion settlement report and settlement data, he should pay the interests of arrears on basis of the interest rate loaned by the contractor from the 29^th day, and assume the liabilities for breach of contract.

(Other articles are omitted, and are same with the general articles in the model construction contract)

Party 3 Special Articles

I There is contractual document about definitions of words

2. The sequence of contractual documents and interpretations: 1, 2, 3, 4, 5, 6, 7, 8, 9

3. Language and applied laws, standards and codes;

3.2 Applicable laws and regulations should be indicated laws, administrative regulations, contract law, construction law and rules for engineering quality control.

3.3 Applicable standard and code

Name of applicable standard and code: see the notes in technical documents

4 Drawings

4.1 The contract-issuing party should provide ( ) set(s) of drawing;

The contract-issuing party’s requirements on drawing secrecy:

The requirement of use of foreign drawing and assuming of expenses:

II Both parties’ common rights and obligations

3. Engineer

3.3 The engineer appointed by the contract-issuing party

Name: Ma Weizhi;