Baosteel and CDB on new partnership
Baoshan Iron & Steel Co., Ltd. (Baosteel) announced on its website Wednesday that it signed a strategic cooperation agreement with China Development Bank (CDB) Tuesday as it also has secured a credit line of $10 billion from the latter.
In accordance with the agreement, the two sides will cooperate to pursue acquisitions of resources projects and expansion in the overseas market as well as mergers and acquisitions in the domestic market.
