Gansu Province-based Chinese steelmaker Jiuquan Iron and Steel Group Co. (JISCO) has announced that it has lately signed a strategic cooperation agreement with Yancheng, Jiangsu Province-based Chinese company Yueda Group.
JISCO stated that the agreement is an essential step towards the further development of all-round cooperation between the companies after the agreement signed in May 2012 for investment by Yueda Group in JISCO's Gansu-based subsidiary Pingliang Tianyuan Coal Electrochemical Co. The latest agreement foresees increased cooperation in mineral exploitation, as well as cooperation in the energy, manufacturing and logistics sectors.
Yueda Group achieved operating revenues amounting to RMB 88.347 billion in 2012. It operates in fields including textiles, automotive, manufacturing, mining development, real estate and financial services
