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China Steel Corp. (CSC) announced to joint-venture with South Africa's Assmang Ltd. and Japan's Sumitomo Corp. to build up a new alloy plant in Malaysia. The total investment costs about $320 million, which Assmang owns a 54.36 percent stake in the plant, while Sumitomo owns 26.62% and China Steel 19%. The plant is scheduled to start production in 2015 and will supply 30,000 tons of raw materials to CSC every year.