China Steel, Sumitomo venture gets approval

China Steel Corp. said its planned venture with Japan’s Sumitomo Metal Industries Ltd. has won approval from the Vietnamese government, the Kaohsiung, Taiwan-based company said in an e-mailed statement Monday.

China Steel Sumikin Vietnam Joint Stock Co. plans to produce 1.6 million tons of steel annually for use in automobile and household appliances, the statement said.

thanhnien, bloomberg

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