Chinese steelmaker Anshan Iron and Steel Group (also known as Angang) Monday announced firm plans to invest in a rebar facility located in Amory, Mississippi. Anshan, China's second-largest steel producer, is slated to gain a $175 million stake in the facility; which is still under construction.
This will be Anshan's first mill located in the US. The deal is subject to approval by the China's Ministry of Commerce.