ArcelorMittal venture opens new automotive steel plant in China
Venture aims to supply international carmakers and large suppliers
ArcelorMittal has opened its new automotive steel plant in China, reports Reuters. The CNY5.2 billion Chinese (USD844.7 million) facility is owned by Valin AreclorMittal Automotive (VAMA) Steel – a joint venture 49% owned by ArcelorMittal while the rest is controlled by China's Hunan Valin Steel Company. The plant's annual production capacity of high-strength automotive steel stands at 1.5 million tonnes. This includes 800,000 tonnes of cold rolled coils, 200,000 tonnes of aluminium-coated coils, and 500,000 tonnes of hot-dip galvanised coils.
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