Shanghai Baosteel in talks with Indian steel companies
Market reports state that Shanghai
Baosteel Engineering & Equipment, a division of
Baosteel Group, is in negotiations with both public and private steel companies in
India, aiming to make commercial agreements for mutual
trading exchanges. The Indian steel companies are confirmed to be Bhilai Steel, Tata Iron and Steel Comp.(TISCO) and Ispat Ind. Ltd.(IIL). Besides, it is reported that Shanghai
Baosteel is also seeking opportunities to form joint ventures or strategic alliances and make further
investments worldwide in the short run.
Furthermore, being the primary supplier of automobile steel, oil tube, ship-building
plate,
stainless steel, silicon steel and high-strength
construction steel in
China within 3-5 years is among the plans of Shanghai
Baosteel.