Tuesday, 28 June 2011

Jinan Province-based Chinese steel company Jinan Iron and Steel Co. Ltd (Jinan Steel) has stated that it plans to establish a joint venture with Australian steelmaker Bisalloy Steel Group Limited for the production of quenched and tempered steel plate, according to a Shanghai Stock Exchange filing.

The total investment in the joint venture will be $3million, with $2 million invested by Jinan Steel and the other $1 million invested by Bisalloy Steel Group. The annual output capacity of the joint venture is expected to be in the range of 50,000-150,000 mt.