OREANDA-NEWS. March 01, 2012. Shandong Iron and Steel Group pledged to complete merger procedures with Rizhao Steel by 2013.

Rizhao Steel, which obtained a profit of 3.45 billion yuan last year, now acts as a trustee in charge of running Yingkou Medium Plate Company owned by Minmetals Corporation.

The steel mill will strive for the goal of becoming a top quality steel complex within this year.