Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has announced it plans to invest RMB 400 million ($60.6 million) in setting up a joint venture steel company called Anyang Steel Zhoukou Steel Co. Ltd, with a registered capital of RMB 1.0 billion ($0.15 billion) and with Anyang Steel holding a 40 percent stake in the JV. The other parties, which include Zhoukou Industrial Cluster Development Investment Co., Ltd., Zhoukou Investment Group Co., Ltd. and Zhoukou Port Logistics Park Construction Development Co., Ltd, will invest RMB 300 million ($45.5 million), RMB 200 million ($30.3 million) and RMB 100 million ($15.15 million) in the new joint venture steel company, holding 30 percent, 20 percent and 10 percent stakes in Anyang Steel Zhoukou Steel, respectively.