They will also cooperate in bonded-area operations and trade and jointly build an iron ore blending and distribution center in northeast Asia, according to the MOU.
The listed arm of steelmaker HBIS Group Co Ltd announced that the group’s phase one steel plant project in the coastal city of Legang in Hebei province of China has become operational.
The launch of FerroHaat underlines Tata Steel’s commitment to foster trust, transparency and ease of doing business in the scrap industry, an official statement said.