Baosteel forms JV with Jiangsu Yinhuan

Thursday, 05 July 2007 15:06:24 (GMT+3)   |  
       

SteelOrbis Shanghai

Chinese steel giant Baoshan Iron & Steel Co. Ltd (Baosteel) has set up a joint venture with Jiangsu Yinhuan Precision Tube called Baoyin Steel Tube Corp. for the production of steam generator tubes (U-shaped pipes) destined for application in nuclear power plants.

The new Baoyin joint venture company has a registered capital of RMB 200 million ($26 million), in which Baosteel holds a 65 percent share while Jiangsu Yinhuan owns 35 percent.

Baoshan Iron & Steel Co., Ltd. Special Steel Branch will provide the raw material while Yinhuan will be responsible for the processing operation. It is estimated that the JV will be able to supply around 500 mt/year for two 1 million kW per year nuclear power plants from July 2009. So far, such high standard special tubes have only been produced in France, Japan and Sweden and as such the new JV represents a landmark in the production of this kind of special tube.

The beginning of the twenty-first century can be seen as representing a turning point in Baosteel's strategy, with the producer seeking cooperation with domestic steel industries instead of pushing forward technological developments and economic growth on its own as in the past.


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