Itochu-Marubeni & Pangang invest in OCTG
Panzhihua Iron and Steel Group's (Pangang) Chengdu Iron and Steel Co Ltd will form a joint venture with
Japan's Itochu-Marubeni Iron and Steel Co Ltd. to produce OCTG pipes in
China's southwestern Chengdu province.
The $60 million project calls for the establishment of two OCTG
production lines with an aggregate annual
production capacity of 250'000 tons. The project is expected to be completed next year.