The Group has entered into a strategic partnership with Fujian Wuhang, one of the largest privately-owned stainless steel producers in China, to construct the Tharisa Ferrochrome Smelter, a ferrochrome smelting facility located in Luoyuan Bay, Fujian Province, China, at a coastal site adjacent to the Baosteel Desheng Stainless Steel Plant. The smelter will be owned by Tharisa Fujian Industrial, a wholly wholly foreign-owned enterprise. Fujian Wuhang has a call option to acquire 15% of Tharisa Fujian Industrial.
SMELTING
SMELTING