Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group Co. (Hebei Steel) has inked a strategic agreement with state-owned China Railway Group Limited (China Railway).
According to the agreement, the two parties will develop cooperation in raw materials, overseas projects and rail products. In terms of raw materials, China Railway will use its coal, iron ore and other mineral resources in cooperation with Hebei Steel.
In terms of overseas projects, benefitting from China Railway’s advantage in overseas construction markets and in business channels, China Railway and Hebei Steel will jointly explore overseas markets. Meanwhile, China Railway will assist Hebei Steel in developing domestic and international markets for rail products, giving priority to purchases of rail products from Hebei Steel.