Anyang Steel plans to set up joint venture

Monday, 29 March 2021 14:07:04 (GMT+3)   |   Shanghai

Henan Province-based Chinese steelmaker Anyang Iron and Steel Inc. (Anyang Steel) has announced that it plans to set a joint venture called Yongtong Equipment Technology Co., Ltd in Nanzhao county in Henan Province, with a registered capital of RMB 300 million ($46 million).

Anyang Steel will invest RMB 137 million ($21 million) in the new joint venture and will hold a 45.53 percent stake in the company. It stated that the investment is aimed at strengthening and enlarging its casting pipe business.

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