Metal Products News
- Baosteel, Hansteel launch $2.6b JV
Date: 17-Dec-2007 Sources: (Shenzhen Daily)
BAOSTEEL Group, China's largest steelmaker, has launched a 19.4 billion yuan (US$2.6 billion) joint venture with Hansteel Group.
The plant, Hangang Hanbao Iron and Steel Co., will be able to produce 4.6 million tons of high grade steel plate annually upon completion. Hansteel and Shanghai-based Baosteel has each invested six billion yuan for its registered capital. The National Development and Reform Commission gave the nod to building the plant in Handan, a city in North China's Hebei Province in December 2005.
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