|  | 23/05/2005 |
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Kobe Steel to Form Direct Reduced Iron Venture in China
Kobe Steel, Ltd. announced on May 20 2005 that it signed on the previous day a letter of intent with Shijiazhuang Iron & Steel Company Limited (also called Shigang), whose sales and crude steel production were about 4 billion yuan in 2003 and 2 million tonnes in 2004 respectively and main products are the structural steel bars for machinery and automotive use, with the aim to establish a joint venture company that will produce direct reduced iron using a coal-based process in Hebei Province, which is located in 300 kilometers southwest of Beijing, China. Japanese trading firms Mitsui & Co., Ltd. and Sojitz Corporation also are planning to participate in the venture.
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 | Kobe Steel to Form Direct Reduced Iron Venture in China
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