Mittal to buy stake in Kunming Steel
Mittal Steel Co reportedly plans to acquire a stake in Chinese steel producer Kunming Iron and Steel Group. This move will mark Mittal's second investment in
China.
Mittal Steel has initiated talks regarding the issue; however, the company has not disclosed how much of Kumming it plans to acquire.
This investment will allow Mittal to further expand into
Southeast Asia. As previously reported by SteelOrbis, Mittal Steel bought a 37% stake in Chinese steel producer Hunan Valin Iron & Steel
Wire Co earlier this year.