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CHINA'S BAOSTEEL WILL BOOST INVESTMENT IN STEEL PLATE IN SAUDI TO $1 BILLION

  • NEWS Desk Global
  • Jul 26, 2024
  • 1 min read



China's biggest listed steelmaker, Baoshan Iron and Steel Co (Baosteel), said on Thursday that it will more than double its investment in a steel plate joint venture in Saudi Arabia to $1 billion from around $437.5 million previously.

Baosteel, a subsidiary of the world's largest steelmaker China Baowu Steel Group, signed agreements in May with Saudi Aramco and the Saudi Public Investment Fund (PIF) to build a steel plate manufacturing joint venture.

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