ArcelorMittal to build steel plant in China

sarwesh · 07-01-2008, 06:42 PM

BEIJING : World's largest steel producer ArcelorMittal on Tuesday agreed to set up an automotive steel joint venture in China with China’s Hunan Valin Group.

Hunan Valin Steel Tube and Wire Co. will have a 34-percent stake in the joint venture worth $729 million while ArcelorMittal and Hunan Valin Group will each own 33 percent.

The joint venture Valin ArcelorMittal Automotive Steel Ltd will be located in Hunan province of central China and have an annual capacity of 1.2 million tones of steel plates for automotive production.

07-01-2008, 06:42 PM	#1 (permalink)
sarwesh Status: Senior Member Join Date: Jun 2008 Posts: 420	ArcelorMittal to build steel plant in China BEIJING : World's largest steel producer ArcelorMittal on Tuesday agreed to set up an automotive steel joint venture in China with China’s Hunan Valin Group. Hunan Valin Steel Tube and Wire Co. will have a 34-percent stake in the joint venture worth $729 million while ArcelorMittal and Hunan Valin Group will each own 33 percent. The joint venture Valin ArcelorMittal Automotive Steel Ltd will be located in Hunan province of central China and have an annual capacity of 1.2 million tones of steel plates for automotive production.

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