Shandong Iron and Steel Rizhao 1.496 billion acquisition of Shandong Minyuan iron and steel production capacity is expected to reach 40 million tons.

Shandong Iron & Steel (600022.SH) announced on December 13 that Rizhao Co., Ltd. (Hereinafter referred to as "Rizhao Company"), a holding subsidiary of Shandong Iron & Steel Group, intends to purchase the existing capacity indicators of pig iron 1.19 million tons and crude steel 1.7 million tons of Shandong Minyuan Iron & Steel Co., Ltd. (Hereinafter referred to as "Shandong Minyuan Iron & Steel") located in Zhangqiu District, Jinan City with self-financing of 1.496 billion yuan.