On December 19, 2020, Sinosteel Equipment & Engineering Co., Ltd. (Sinosteel MECC) inked the strategic cooperation agreement with Shanxi Hongda Iron & Steel Gorup (Hongda Group) in Beijing.
Founded in 1993, Hongda Group is an giant private enterprse concentrating business in iron making, steel making, steel rolling, ferroalloy, power generation, trade and transportation.
The scope of the cooperation agreement encompasses the development of highly innovative technology, sustainable steel production, robotics, automation and artificial intelligence.
Sinsteel MECC's goal is to make Hongda Group more globally competitive with a focus on high-end manufacturing quality.
Among other things, Sinosteel MECC will help Hongda Group create new types of steels with better strength and performance.
The signing of this agreement is proof of the high degree of trust between these Companies and represents the first step towards establishing a long-term partnership.
The main aim of the cooperation agreement is the production of green steel by reducing emissions by the gradual decarbonization of steel production in China.