Exhibit 10.2
LF 80 Tons Refined-Steel Ladle Refractories
Full-Services Contract
(English Summary /Translation )
Contract No: HG-2008-C2/W3-024
Signing Date: November 12, 2008
Party A: Heilongjiang Iron & Steel Co.,
Ltd.
Party B: Henan Gengsheng Refractories Co., Ltd.
Through negotiations in good faith, Heilongjiang
Iron & Steel Co., Ltd. (hereinafter referred to as the "
Party A ") and Henan Gengsheng Refractories Co., Ltd.
(hereinafter referred to as the " Party B ") agree to enter
into this full services contract (the "Contract") in connection
with the materials used for LF 80 tons ladle for refined steel and
agree to bind to the terms agreed as follows:
1. The contents of services and scope of
supply and materials
Party B shall provide materials and personnel
supports to Party A’s facilities regarding insulation
installations, constructions of operations facilities, refractories
replacements, on-site maintenance, and all the supplies tools and
equipments.
2. Rights and obligations
(1) Party A
2.1.1. Shall provide storage space for Party B to locate certain
amounts of refractories materials and equipments on the site.
2.1.2. Shall provide possible utilities for Party B to conduct
daily operations and maintenance at the facilities; shall provide
timely risk management to secure continuing operations.
2.1.3. Shall be responsible for all the equipments supporting
on-site installation and repairs.
2.1.4. Shall assign the consignee to coordinate the production
operation with the technicians assigned by Party B.
2.1.5. Shall be eligible to terminate this Contract when Party B
does not agree with technical instructions requested by Party
A.
2.1.6. Shall be eligible to terminate this Contract when Party B is
responsible for consecutive accidents (including broken ladle 3
times or any accidents delaying operations more than 1 hour or any
injuries).
(2) Party B
2.2.1. Shall be responsible for all the equipments and maintenances
and repairs services.
2.2.2. Shall assign professional and skillful technical team to be
responsible for on-site constructions and related maintenances.
Shall report to Party A regarding the status of operations.
2.2.3. Shall strictly operate following technical instructions and
bind to inspections and supervision from Party A. Shall guarantee
the quality of refractories materials, the usage period, and the
capacity of ladle to meet the production requirement;
2.2.4. Shall comply with production arrangement and on site
instruction undertaken by Party A and shall fulfill agreed
production plan.
2.2.5. Shall strictly conduct safety management, shall be
responsible for implementing worker safety education, shall
guarantee safe opera
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