Baosteel Group, Shanghai-based Chinese steel giant has announced that it has signed a strategic cooperation agreement with China Communications Construction Co.
Baosteel has previously carried out some projects in cooperation with China Communications Construction Co., in particular involving close cooperation in the area of development of abrasion-resistant steel products and finished steel supply. The new agreement will further promote cooperation between the companies in terms of finished steel supply, while cooperation on research and development and application of new steel products will also be increased. The companies' cooperation will also focus on BT (build-transfer) and BOT (build-operate-transfer) infrastructure projects, while they will also work together focusing on expansion in the overseas markets.
China Communications Construction Co. is principally engaged in the design and construction of transportation infrastructure, and in the dredging and heavy machinery manufacturing business. It is the largest port construction and design company in China, a leading company in road and bridge construction and design, a leading railway construction company, the largest dredging company in China and the second largest dredging company in the world. China Communications Construction Co. is also the world's largest container crane manufacturer. It currently has 34 wholly-owned or controlled subsidiaries.