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National Development and Reform Committee (NDRC) issued the approval for collaborated steelmaking between Chinese Chongqing Steel and South Korean Posco as the initiation of plan construction which will be start in this June.This joint venture project will focus on accomplishment of annual production volume for 3 million tons of pig iron along with 3.145 million tons of crude steel and 3.05 million tons of finished steel.Also, this project is considered as a giant step for the two companies to expand their steel competition domestically and internationally.