Global steel giant Mittal buys first stake in China's steel industry


BEIJING (AP) - Dutch company Mittal Steel Co., the world's biggest steel maker, has made its first investment in China, buying a 37 percent share of a state-owned steel mill, a news report said Friday. 

The government on Thursday approved the US$337 million (euro260 million) purchase of shares in Valin Iron and Steel Co. Ltd. in the central province of Hunan, the official Xinhua News Agency said. 

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