News Room - Steel Industry

Posted on 11 Nov 2008

CSC and Baosteel eye cooperation on mining and shipping

China Knowledge cited Mr L M Chung, vice managing director of CSC as saying that China Steel Corp is likely to team up with Baosteel Group Corp, parent of China's largest steelmaker Baoshan Iron and Steel Co, for investment in mining and marine shipping businesses.

 

Mr Chung revealed that both parties have studied the feasibility and might cooperate on iron ore, coal and marine shipping businesses. However, negotiations on specific projects are yet to be started.

 

Meanwhile, Mr Xu Lejiang, Baosteel president, told reporters over an industrial conference held in Kaohsiung last week that Baosteel is looking forward to partner with China Steel Corp, but he did not elaborate on the cooperation.