Shanxi Province-based Chinese steelmaker Shanxi Iron and Steel Group Co. (Shanxi Steel Group) has announced that it has inked a strategic agreement with state-owned company China Railway Group Limited (China Railway).
According to the agreement, Shanxi Steel Group will form part of China Railway’s supply chain, while China Railway will give more support to Shanxi Steel Group in terms of finance relating to supply chain activities, thereby ensuring mutual benefits for both sides.
China Railway is a large integrated construction group that encompasses infrastructure construction, survey, design and consulting services, engineering equipment and component manufacturing, property development and other businesses. The company has an average annual demand for 13 million mt of finished steel in its construction operations.