Liaoning Daily reported that Angang Group lately signed a strategic agreement with Yingkou Port Co, not only to cooperate in logistics, but also by cross shareholding jointly operate the Yingkou port ore dock and Bayuquan steel dock.

According to the report, the two parties aim to realize win to win by complementing each other, sharing resources and mutually beneficial collaboration. Apart from the strategic agreement, they also inked two contracts on jointly funding and operating the two docks.

In the iron ore dock company, Yingkou Port Liability Company Limited will hold the controlling stake of 60% with the balance equally taken by Yingkou Port Co and Angang Group, while in the steel dock company, Angang Group will take the lead, followed by Yingkou Port Liability Company Limited in a scale of 6:4.

As reported, they are confident to make a high efficient and low cost logistics chain for Angang Group with startup of the Bayuquan project.

(Sourced from MySteel.net)