# Xiwang Special Steel to form joint venture with Chinese Academy of Sciences

Xiwang Special Steel Ltd signed a memorandum of understanding with the Institute of Metal Research of the Chinese Academy of Sciences and 10 technicians to form a joint venture for producing and selling rare earth special steel, with initial registered capital of RMB 1 billion.

- Type: Partnership
- Announced: 2020-06-26
- Where: China
- Value: $141.0M (1.00B CNY)
- Status: announced
- Products: rare earth special steel, various steel and steel products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Xiwang Special Steel Ltd](https://endata.com/companies/48131.md)
- [Institute of Metal Research, Chinese Academy of Sciences](https://endata.com/companies/48132.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/313290.html), 2020-06-26: "董事会认为，鉴于中科院金属所及集团各自的优势、资源及专长，建议合营企业成立(倘实现)将带来协同效应..."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.