IN BRIEF (Page 10)

Iron contract signed

The State-owned Shandong Iron and Steel Group has signed a letter of intent to consolidate with China's Rizhao Iron and Steel Co Ltd, one of China's largest private steel mills.

Shandong Iron and Steel Group was founded through a merger between two major steel mills, Laiwu Steel Group and Jinan Iron and Steel Group earlier this year, and has a registered capital of 10 billion yuan.