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Print[Ferro-Alloys.com]Eurasian Natural Resources Corporation PLC (‘ENRC' or, together with its subsidiaries, the ‘Group') today announces the signing of a five year framework agreement with Shanxi Taigang Stainless Steel Co. Ltd. (TISCO) for the supply of high-carbon ferrochrome.
TISCO is the largest producer of stainless steel in China, located in Taiyuan, in the Province of Shanxi, with the projected capacity of 3.2 million tons of stainless steel in 2012.
ENRC has been the single largest supplier of ferrochrome to TISCO since 2001. This agreement is the Group's second long-term supply arrangement with TISCO and highlights the strength of partnership that has developed between the two companies over the years.
According to the terms of the agreement, ENRC will initially supply 1.5 million tons of high-carbon ferrochrome over five years. The supply volumes will increase over the term, to take into account ENRC's increased ferrochrome production from new Aktobe Ferroalloys Plant in Kazakhstan, which is currently under construction and due to be commissioned in 2013.
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