On the afternoon of June 3, Dazhou City signed Strategic Cooperation Agreement with Liaoning Fangda Group, and signed Dagang Group Relocation and Transformation Development Cooperation Agreement with Jiangxi Fangda Group. Both parties will speed up the construction, achieve an annual output of 10 million tons of high-quality steel production capacity, and build an important modern steel industry base in Sichuan Province and Chongqing City.

Background

Dagang Group was built in 1958. In 2004, it was transformed from a wholly state-owned enterprise into a private joint-stock company. Dagang has an annual production capacity of 3 million tons of crude steel, 3.5 million tons of finished steel products and 200,000 tons of chemical products. From 2014 to 2016, Dagang Group suffered great losses for three consecutive years.

Liaoning Fangda Group is a large-scale group with cross-industry, cross-region, diversification and strong international competitiveness. It is in the leading position in the three major fields of domestic steel, carbon and medicine.