Japanese major business house, Mitsui Corporation announced on Thursday the firm agreed in principle to take 25% stake of Erdos Electric power Metallurgy in Inner Mongolia, China. Mitsui Corporation will invest at about 18 billion yen.Erdos Electric power Metallurgy belongs to Erdos group which perform mainly cashmere fiber business, and is carrying out electric power generation, coal, ferroalloy and drawing water business. Mitsui Corporation launched joint enterprise of Erdos EJM Manganese Alloys Project with Erdos Electric power Metallurgy and JFE Steel, Japanese major integrated steel maker, in 2004.Mitsui Corporation aims to build up adamantine partnership with Erdos Electric power Metallurgy for mainly ferroalloy and coal business by this acquirement of the interest.Aftertime, Mitsui Corporation stably supply and back up the sales for ferroalloy products which is such as ferrosilicon that Erdos Electric power Metallurgy produce, and build on this agreement for electric power business or coal resource development.
Japan Steel Scrap Composite Prices (Sangyo Press)
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