CSC&Yieh Loong JV with Sumitomo for slab supply proceeds
SteelOrbis is reported that the Joint Venture between
CSC (
China Steel Corp) and Yieh Loong of
Taiwan with Japanese company Sumitomo for
slab supplies ex-Wakayama plant, has been discussed at the board meeting of
CSC.
CSC board has confirmed that this Joint Venture project will be continued to proceed. Yieh Loong and
CSC are planning to secure a total supply of about 1.8 million tons of slabs per annum ex-Wakayama plant through this joint venture company eventually. However the quantity to be supplied is to be increased step by step. Yieh Loong is expected to take 200'000 mt per quarter, and therefore another two years will be needed to reach the mentioned quantity of 1.8 millions tons per annum.