Caixin
Oct 01, 2022 04:06 AM
BUSINESS

Baowu Steel Lines Up Singapore Partners for Simandou Project

What’s new: State-owned China Baowu Steel Group, the world’s largest steel producer, signed an agreement Friday with a Singaporean consortium to jointly develop part of the massive Simandou iron ore project in Guinea.

Baowu Steel said it will form a consortium with major domestic steelmakers, infrastructure construction concerns and strategic investors to work with Winning Consortium Simandou (WCS) in developing the Simandou North Iron Project in Guinea.

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