Monday, 12 Jul 2010
Beijing Times reported that state run Chinese steel mill Anshan Iron and Steel Group isn't planning to stop cooperation with US steel mill Steel Development Company and it expected that the joint project will not be affected even if US government initiates investigations.

Anshan Steel made such statement just after its US counterpart announced no plan to withdraw from the project.

Some American government lawmakers protested that Anshan Steel's participation in construction of steel plants in US will make it potential to touch infrastructure technologies and information concerning US national safety. In face of such unprovoked allegation, Anshan Steel said that according to the agreement with its US cooperator, the technologies adopted are derived from Europe and not employed for the first time.

Besides of the joint venture, it holds only a stake of less than 14% and rebar produced by the joint plants will take a grain portion of less than 0.3% of American market. So the project will not hurt interest of local steel suppliers. And the alleged adverse influence on employment is also groundless, Anshan Steel argued. On the contrary, the project will promote the employment of local areas.