Hunan home to joint venture ArcelorMittal auto steel plant
By Huang Ying | China Daily | Updated: 2014-06-23 07:09
Valin ArcelorMittal Automotive Steel Co Ltd officially opened its first automotive steel plant in China on June 15, marking a new milestone in China's automotive industrial chain.
The company known as VAMA is a 51-49 joint venture between Valin Steel Co Ltd in Hunan and ArcelorMittal, the world's leading steel and mining company headquartered in Luxemburg.
Located in Loudi, Hunan province, VAMA was approved by the National Development and Reform Commission and the Ministry of Commerce. Total investment in the venture will reach 5.2 billion yuan ($832 million), said the company.
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