Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

To smack or not to smack?

Read more

DEBATE

Soft on Smacking? France slammed for not banning corporal punishment (part 2)

Read more

FOCUS

French Muslims refuse to be scapegoats for extremists

Read more

IN THE PAPERS

'Obama needs to provide real answers to Netanyahu's arguments'

Read more

IN THE PAPERS

Hollande: 'We have to tear voters away from the National Front'

Read more

FACE-OFF

French local elections: Far-right National Front in pole position

Read more

ENCORE!

Film Show: 'Citizen Four', 'The Circle' and 'Wolf Totem'

Read more

EYE ON AFRICA

Tangerine Dream: Afropolitan star Yemi Alade chats to FRANCE 24

Read more

MIDDLE EAST MATTERS

Iraq: Islamic State group's child soldiers

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)