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Nippon Steel & Sumitomo Metal Corp And Baoshan Iron & Steel Co Ltd JV Plans Expansion-Reuters

Thursday, 5 Sep 2013 07:47am EDT 

Reuters reported that Nippon Steel & Sumitomo Metal Corp said its joint venture with China's Baoshan Iron & Steel will spend CNY1.1 billion ($180 million) to boost output of automotive steel sheet to meet growing demand in China. The 50-50 joint venture (JV) between Nippon Steel and Baoshan plans to build a new hot-dip galvanizing line next to existing facilities in Shanghai.