The municipal government of Yuxi in China's Yunnan Province has signed a strategic investment agreement with Yunnan-based Chinese steel producer Kunming Iron and Steel Holding Co., Ltd (Kunming Steel), as reported by local media sources. Accordingly, in the next five years Kunming Steel will invest more than RMB 50.0 billion ($7.7 billion) in the city of Yuxi, to upgrade its industries and promote integration among the local steel, cement and construction industries, and to explore centralized purchase and supply of mining products for the steel industry in Yunnan Province.