It is reported that Shandong Jinan Iron and Steel Co Ltd plans to jointly establish Bis & Jigang Steel Plate Co Ltd with Australia Bisalloy Steel Group Ltd. Heat treatment production lines and the exclusive technology and brand are provided by the two sides respectively.

The joint venture covers the business range of globally researching, developing, producing, marketing and franchising tempering steel plates with the annual producing capacity of 50,000 tonnes to 150,000 tonnes.

The registered capital totalled USD 3 million among which 2/3 rendered by Jigang and 1/3 by Bisalloy.

The partnership term may last for 10 years with 50:50 profit distributions.

(Sourced from Jinan Daily Times)