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Baosteel, Shanghai Railway Bureau to Establish Strategic Cooperation
Jan. 28, 2010 Baosteel Group Corp. recently signed a letter of intent for strategic cooperation with Shanghai Railway Bureau.
Baosteel Group Corp. Vice General Manager Dai Zhihao and Deputy Chief Officer of Shanghai Railway Bureau He Yuanqing signed on behalf of the two sides.
Strategic cooperation will be centered on three aspects. One is to maintain steady growth of railway logistics in scale and strength and railway-enterprise sustained growth, through mutual efforts to enhance capacity and efficiency.
The second is to optimize the transportation scheme, resource allocation, and service quality, as well as to work out and boost appropriative facilities capacity expansion for better raw material and end product transportation. Shanghai Railway Bureau will help Baosteel to integrate internal railway resources.
The two organizations will also work together on trading and management of railway construction projects material supply, transportation trading integration, railway scrap steel recycling, advertisement, passenger ticketing service, etc.
Upon signing the agreement, the Shanghai Railway Bureau investment management center and Baoshan Iron & Steel Co., Ltd.’s raw material purchasing center, as representatives of the two sides, will meet regularly as stipulated in the coordinative communication mechanism for strategic cooperation.