Reuters reported that Japan's biggest steelmaker Nippon Steel Corp is in talks to buy a steel mill in Southeast Asia to step up its overseas expansion. Nippon Steel Executive Vice President Mr Takahiro Mori told Reuters "The discussions are under way to secure iron sources in ASEAN. One hundred million is a symbolic figure for us to have a certain presence and influence as global steel major.”He declined to comment on details, but said the deal could involve an electric furnace.Nippon Steel had said in March that it may consider acquiring or investing in integrated steel mills in China and ASEAN countries to boost its global capacity of crude steel output to 100 million tonnes. As of March, Nippon Steel's global output capacity stood at 70 million tonnes.
Reuters reported that Japan's biggest steelmaker Nippon Steel Corp is in talks to buy a steel mill in Southeast Asia to step up its overseas expansion. Nippon Steel Executive Vice President Mr Takahiro Mori told Reuters "The discussions are under way to secure iron sources in ASEAN. One hundred million is a symbolic figure for us to have a certain presence and influence as global steel major.”He declined to comment on details, but said the deal could involve an electric furnace.Nippon Steel had said in March that it may consider acquiring or investing in integrated steel mills in China and ASEAN countries to boost its global capacity of crude steel output to 100 million tonnes. As of March, Nippon Steel's global output capacity stood at 70 million tonnes.
