On May 4th, Tangshan City Party Secretary Wu Weidong visited Qianxi County to conduct research and inspections on project construction and other work. He emphasized the need to accelerate the implementation of the signed cooperation agreement between China Oriental Group and ArcelorMittal Group, and to explore the development of a fusion development industrial park combining Jinxi Steel and ArcelorMittal Group.

It is reported that on April 24th, the 70 ArcelorMittal New Energy Soft Magnetic Material Project was officially signed in Changzhou, with a project value of 10 billion yuan. As of the end of 2022, ArcelorMittal's crude steel production capacity was approximately 82.1 million tons.

The new 80 million ton steel plant in Tangshan, which follows the 10 billion yuan contract, marks a significant milestone in the strategic partnership between China Oriental Group and ArcelorMittal Group. The joint venture, which will be located in Qianxi County, Tangshan, is expected to bring significant economic and industrial benefits to the region.

The project is a testament to the commitment and vision of both companies to promote sustainable development and technological innovation in the steel industry. By combining the strengths of China Oriental Group's local market expertise and ArcelorMittal Group's global technological leadership, the joint venture aims to create a world-class steel production facility that meets the highest standards of efficiency, environmental protection, and product quality.

The new steel plant will utilize advanced production technologies and equipment to ensure efficient and environmentally friendly steel production. It will also feature state-of-the-art research and development facilities to support the development of new products and processes that meet the evolving needs of the market.

The signing of the contract and the establishment of the new steel plant represent a major step forward in the strategic partnership between China Oriental Group and ArcelorMittal Group. It is expected to strengthen the cooperation between the two companies and promote the development of the steel industry in China and globally.

In addition to the new steel plant, the two companies are also exploring the possibility of establishing a fusion development industrial park in Tangshan. This park will bring together the resources and capabilities of both companies to create a comprehensive steel production and processing ecosystem that will drive economic growth and technological innovation in the region.

Overall, the new 80 million ton steel plant and the fusion development industrial park represent a significant investment and commitment by China Oriental Group and ArcelorMittal Group to the steel industry in China and globally. They are expected to bring significant economic and industrial benefits to the region and promote the development of the steel industry in a sustainable and innovative manner.