China’s Valin Steel and Xiangtan set up jv
According to recent news in the market, Chinese steel producers Hunan Valin Steel Tube and
Wire Co Ltd and Xiangtan Iron and Steel Group have recently established a joint venture steel plant, which has an annual
production capacity of 3 million tons.
Xiangtan Iron and Steel holds 20.11% stake in the joint venture and the remaining 79.89% stake is held by Hunan Valin Steel Tube and
Wire.
Xiangtan Iron and Steel and Hunan Valin Steel Tube and
Wire invested approximately Yuan 4.5 billion ($543.7 million) and Yuan 4.1 billion ($495.3 million) respectively in the project.