Ropczyce closer to finalising Chinese joint-venture deal

"We are working on establishing a joint venture with a Chinese partner," said Siwiec. According to Puls Biznesu, the joint investment will be worth some $20 million, while the shares in the new venture will be divided equally. The Asian partner is to ensure the availability of magnesite, which is used in the production of installations designed to operate in high temperatures, and a production facility. Ropczyce will supply the technology and a certain amount of cash. The project should be finalised by the end of the next year. It was revealed that the whole of the new plant's output of the new plant will be sold on the Chinese market. "China is a very dynamically developing market. The iron and steel mining industry is growing at a very fast pace, We want to take advantage of the situation, taking into account the promising prospects," explains Siwiec. (Puls Biznesu, pp. 1, 10) A.K.