Wuhan Iron and Steel (WISCO) has announced that its wholly-owned subsidiary, WISCO Metal Resources, is to establish a joint venture with Singapore-based EnGro Corporation.
The Wuhan Wuxin New Building Materials joint venture, based in the Qingshan district of Wuhan, will produce and sell ground blast furnace slag (GGBFS).
Metal resources will hold a 67% stake in the new joint venture, which will have a registered capital of RMB 80 million (US$12 million). EnGro will hold a 33% stake.