China's Beijing-based steelmaker General Steel Holdings, Inc. (GSH) has announced its entry into a joint venture agreement with Shaanxi Longmen Iron & Steel Group Co., Ltd. (Long Steel).
The joint venture, which is to be located in Shanxi province, will focus on the production of rebar and other infrastructure related steel products with an initial capacity of three million metric tons per annum.
General Steel will hold 60 percent of the joint venture through its two subsidiaries; Tianjin Daqiuzhuang Metal Sheet Co., Ltd. and Tianjin Qiu Steel Investment Co., Ltd, while the rest of the shares will be owned by Long Steel.