BRIEF-China Oriental And Arcelormittal Conditionally Agree To Establish Upstream JV

Reuters

2024/10/16

Oct 16 (Reuters) - China Oriental Group Co Ltd

* CO AND ARCELORMITTAL CONDITIONALLY AGREED TO ESTABLISH UPSTREAM JV

* JV TO ENGAGE IN PRODUCTION OF HRC SUBSTRATES AND OTHER PRODUCTS JOINTLY DETERMINED BY JV PARTNERS

* CO AND ARCELORMITTAL DOWNSTREAM JV AGREEMENT

* AMOUNT OF TOTAL INVESTMENT FOR UPSTREAM JV SHALL BE US$660 MILLION

* JV PARTNERS CONDITIONALLY AGREED TO ESTABLISH DOWNSTREAM JV TO ENGAGE IN PRODUCTION OF NEMM PRODUCTS

* AMOUNT OF TOTAL INVESTMENT FOR THE DOWNSTREAM JV SHALL BE US$2 BILLION

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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