# ArcelorMittal and China Oriental Group form $2.66B joint ventures for steel and NEMM

ArcelorMittal and China Oriental Group signed agreements to establish two joint ventures: an Upstream JV for HRC substrates in Tangshan, Hebei, and a Downstream JV for NEMM products in Changzhou, Jiangsu. Total investment is USD 2.66 billion.

- Type: Partnership
- Announced: 2024-10-16
- Where: Tangshan, Hebei Province; Changzhou, Jiangsu Province, China
- Value: $2.66B
- Status: announced
- Products: HRC substrates, new energy soft magnetic material (NEMM) products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

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

## Sources

- [bakermckenzie.com](https://www.bakermckenzie.com/en/newsroom/2024/11/arcelormittal-jv-with-china-oriental), 2024-11-06: "ArcelorMittal and China Oriental Group entered into agreements to establish an Upstream JV for the production of HRC substrates, and a Downstream JV for the production of NEMM products."

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