Hebei Steel signs strategic agreement with China Railway: Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group Co. (Hebei Steel) signed a strategic agreement with state-owned China Railway Group Limited (China Railway).
Under the agreement, the parties will develop co-operation towards raw materials, overseas country projects and rail products. In cooperation with Hebei Steel, China Railway will use coal, iron ore and other mineral resources as raw materials.
In the overseas country projects, the parties that will use China Railway's advantage in the overseas country construction market and business channels will examine these markets jointly. However, China Railway will give priority to Hebei Steel when buying rail materials and will provide support to the company in developing domestic and international rail materials markets.