Baowu Group will enter Chongqing Iron and Steel
Chen Derong, chairman of China's largest steel group China Baowu Group, revealed that Baowu Group will enter Chongqing Iron and Steel in the next step, and Baowu Group will realize annual production capacity aim of hundreds of millions of tons. And Mr. Chen also said that Baowu Group is currently one of the investors of Chongqing Iron and Steel and will officially enter the Chongqing Iron and Steel company in the future.
Baowu Group had planned to form a production capacity of 100 million tons of steels in 2021. At present, Baowu Group's production capacity is 70 million tons, and the restructuring Maanshan Group's production capacity is 20 million tons and Chongqing's steel production capacity is 10 million tons.
At the end of 2017, after the judicial reorganization of Chongqing Iron and Steel, it introduced the first domestic steel industry adjustment fund, the Siyuanhe Fund. The fund was jointly initiated by China Baowu Iron and Steel Group, the United States WL Ross, China-US Green Fund and China Merchants Financial Group. In February 2019, Chongqing Iron and Steel and Baowu Group signed 14 collaborative support projects. In June 2019 , Baowu Group of Chongqing Municipal People's Government signed a strategic cooperation framework agreement to promote the establishment of the Southwest Regional Headquarters.
Shanghai All-Win Iron & Steel company is also willing to cooperate all the partners from all the world around, to establish long-termed strategic cooperation under both win-win system.