Chinese steelmaker Echeng Steel and China Pingmei Shenma Group, a state owned coal producer based in Henan province, have reportedly set up a joint venture in Hubei province.
Industry sources said that both sides have a 50% stake in the joint venture, which focuses on production and sales of coke and coking by-products, etc.
China Pingmei Shenma Group has been one of major coal suppliers of Echeng Steel. The establishment of the company will help the Hubei based steelmaker secure coal supplies from the coal producer and meanwhile strengthen strategic cooperation of the two sides.
