China Knowledge reported that Jiangsu Shagang Group Co China largest privately owned steelmaker recently signed a strategic cooperation framework agreement with China National Coal Group, parent of the country second-largest coal miner China Coal Energy Co Ltd.

Pursuant to the agreement, Shagang and China National Coal Group will strengthen cooperation in coal production and trade, iron ore mining, mine-mouth power generation, etc. In addition, China National Coal Group also signed a five-year coal supply agreement with Shagang.

Reportedly, Shagang recently signed a restructuring agreement with Jiangsu Xixing Group, a major special steel producer in China. Upon the completion of the restructuring, Shagang Group's annual production capacity is expected to grow by 1 million tonnes to hit 35 million tons.

(Sourced from China Knowledge)