Announced
HBIS Group and POSCO to invest $600m to set up a joint venture.
Synopsis
Steelmakers HBIS Group and POSCO, agreed to invest $600m to set up a joint venture. The steelmakers will each invest $300m and take a 50% stake in the joint venture, which plans to start construction of a steel plate plant in Tangshan - the heart of China's steel industry.
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