Chinese state owned steel giant Baoshan Iron & Steel is partnering with Inner Mongolia Baotou Steel to set up a CNY 6.19 billion (USD 890 million) joint ventureBaoSteel will hold 74.9% of the steel and iron smelting business, tentatively named Baosteel Industry Technology, through wholly-owned subsidiary Yantai Lubao Steel Pipe. Baotou Steel will own the remaining 25.09%.
Chinese state owned steel giant Baoshan Iron & Steel is partnering with Inner Mongolia Baotou Steel to set up a CNY 6.19 billion (USD 890 million) joint ventureBaoSteel will hold 74.9% of the steel and iron smelting business, tentatively named Baosteel Industry Technology, through wholly-owned subsidiary Yantai Lubao Steel Pipe. Baotou Steel will own the remaining 25.09%.
