# China Oriental Group and ArcelorMittal to form two joint ventures in China

China Oriental Group and ArcelorMittal signed agreements on October 16, 2024 to establish two 50/50 joint ventures in China: an upstream JV to produce hot-rolled substrate and a downstream JV to produce new-energy soft magnetic materials.

- Type: Partnership
- Announced: 2024-10-16
- Where: China, China
- Value: $1.84B
- Status: announced
- Products: hot-rolled substrate, new-energy soft magnetic materials
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [China Oriental Group](https://endata.com/companies/21259.md)
- [ArcelorMittal](https://endata.com/companies/292.md) (partner)
- [China Oriental Group](https://endata.com/companies/21259.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/1194637.html), 2024-10-16: "公司及 ArcelorMittal 已同意携手建立合营公司，通过订立合营企业协议及同意其他安排，从而于中国软磁材料的低碳生产中获益。"
- [sullcrom.com](https://www.sullcrom.com/About/News-and-Events/Highlights/2024/October/SC-Advises-China-Oriental-Group-Joint-Ventures-ArcelorMittal), 2024-10-25: "On October 16, China Oriental Group Company Limited entered into two joint venture agreements with ArcelorMittal S.A. ... to form two 50/50 joint ventures in the PRC."

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