December 03, 2008

Baosteel commits CNY 400 million funding in Chengdu

It is reported that Chengdu economic & tech Development Park signed CNY 12 billion worth of industrial items with Kobelco, Baosteel and Toyota, marking an acceleration of local machinery manufacturing sectors such as Chengdu made automobile, the supported facilities and loader.

As per report, Baosteel Group signed an investment of CNY 400 million into auto parts, steel and other metals' processing and distribution, While Toyota agreed to expand auto making and would devote to research and development of finished vehicle.