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Companies / China

ArcelorMittal Invests In Chinese Automotive Steel

June 2008 | FDI Alert

Metals manufacturer ArcelorMittal has entered into a joint venture to produce steel for the automotive industry in China. Based in Hunan Province, the joint venture will begin production of steel sheet by end-2010, with an annual production capacity of 1.2mn tonnes. ArcelorMittal will hold a 335 stake in Valin ArcelorMittal Automotive Steel, as will Chinese partner Valin Group, while Valin Steel Tube and Wire will hold a 34% stake. Combined investment from the partners will reach CNY5bn (US$725mn).

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