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Steel Giants Join Forces in Shanghai

Located inside BaoSteel in Shanghai, the new company involves a total investment of 783 million US dollars and 361 million US dollars of registered capital.

BaoSteel have contributed 50 percent of the capital, Nippon Steel 38 percent and Arcelor 12 percent.

The company will have a production capacity of 1.7 million tons of high-grade steel sheet for automobiles.

The new company is aiming to become the dominant auto steel sheet producer on the Chinese market.

Full-scale production will begin in June next year.

 

(CRI August 30, 2004)

 

Steel Giants Quicken Steps into Chinese Market
Steel Import Down 30.2% in May
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New Steel Plant Starts Production
Statistics Show China's Steel Sector Still Red Hot
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