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

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.

Learn More