Three-Party Auto Steel Plate Joint Venture

According to fdi.gov.cn: A joint-venture auto plate plant co- founded by Bao Steel of China, Nippon Steel Corporation of Japan and Arcelor of Europe launched its production yesterday in Shanghai. This is the first time that world-leading steel plants have come together to provide localized service for the Chinese auto industry which is now gaining the 3rd ranking in the world. The three-party joint venture has a total investment of 6.5 billion RMB and a registered capita of 3 billion RMB. It is 50%/38%/12% held by Bao Steel, NSC and Arcelor.