[Ferro-Alloys.com] As released, in November 11, Hanking Group (03788-HK) announced that it has signed a letter of intent with Anshan Steel on the topic of some corresponding agreements. The Anshan Steel is specialized in metallurgical engineering, real estate, mine engineering, petrochemical engineering and electric power engineering.

According to the letter, the joint venture include the construction of two 380-cubic-meter furnaces and its supporting facilities; the Anshan Steel undertakes the project developments; and the project lasts 14 months long.

The two company agreed to promote some programmes and will set up a working committee to discuss the construction plan and technology.

The Hanking board noted that the future cooperations will further utilize the nickel resouces effectively, expand more business aggressively and improve the company's profitability availably.

• [Editor:Juan]