Steel pipe jv between two Chinese and Malaysian companies

Steel pipe jv between two Chinese and Malaysian companies

According to market reports, a steel pipe joint venture worth $19 million between Baoji Steel Pipe Company of China holding 51% share and Malaysia UMW Ace Ltd 49% recently commenced production. The joint venture, named as Shanghai BSW Petropipe Co Ltd, has an annual capacity of 120'000 tons of steel pipe, primarily used in long distance transportation of oil and gas. It is reported that production capacity can be expanded through further lines. Company which plans to export its products and develop business ties with Islamic countries by Malaysian partner has already received orders over 20'000 tons from both domestic and foreign markets, with more than half of the orders from Sudan.