Don't miss

Replay


LATEST SHOWS

FOCUS

Video: Far right at the gates of power in Austria

Read more

FRANCE IN FOCUS

FRANCE 24 turns 10: A look behind the scenes

Read more

EYE ON AFRICA

Gambia's Yahya Jammeh concedes defeat in presidential polls

Read more

MEDIAWATCH

Gambians herald 'new independence' after Jammeh defeat

Read more

THE WORLD THIS WEEK

Hollande, the One Term President (part 1)

Read more

THE WORLD THIS WEEK

Trump Keeps 'Em Guessing, Italian Referendum, Austrian Election, Castro's Death (part 2)

Read more

FASHION

Discovering the winter 2016/2017 men's fashion collections in Paris

Read more

ENCORE!

Rendez-vous on '42nd Street' as the meta musical comes to Paris

Read more

REPORTERS

Uzbekistan reinforces its tight grip on election and country

Read more

ArcelorMittal in $729 million venture with Chinese firms

Latest update : 2008-06-30

The world's largest steel producer ArcelorMittal will set up an automotive steel joint venture with the Chinese Hunan Valin Group and Hunan Valin Steel Tube and Wire Co., according to one of the firms.

Steel giant ArcelorMittal and its Chinese partners have agreed to set up a five-billion-yuan (729-million-dollar) automobile steel joint venture, one of the Chinese firms said.
  
Hunan Valin Steel Tube and Wire Co. will have a 34-percent stake in the joint venture while ArcelorMittal and Hunan Valin Group will each own 33 percent, Hunan Valin Steel said in a statement to the Shenzhen Stock Exchange on Saturday.
  
The joint venture -- Valin ArcelorMittal Automotive Steel Ltd. -- will be located in Hunan province of central China and have an annual capacity of 1.2 million tonnes of steel plates for automotive production, the company said.
  
The project is still subject to regulatory approval, it said.
  
ArcelorMittal is the world's largest steel producer.

Date created : 2008-06-30

COMMENT(S)