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In December 2006, the Group formed an alliance with its strategic partner, POSCO Co. Ltd., to establish a joint venture, Zhongyue Posco (Qinhuangdao) Tinplate Industrial Co., Ltd., in which the Group has a 66% interest and POSCO has a 34% interest, in Qinhuangdao City, Hebei Province. The joint venture was formed in February 2007 to construct a tinplate production line with an annual production capacity of 250,000 tonnes. The production line started production in February 2008. The Group currently with production bases in both the northern and southern region of China have an annual capacity of 470,000 tonnes for producing tinplates.
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