The Chinese steel giant Baosteel will pour RMB8 billion to invest in a natural gas pipeline built by a key customer, aiming to strengthen business tie.
Baosteel will acquire 12.8% of China National Petroleum Corporation's third West East pipeline project, which will link the Xinjiang region with Fujian province.
Also, Baosteel will pay RMB5 billion to buy a 71.8% stake in a steel project in Zhanjiang in Guangdong province.