Sinosteel acquires stake in Oakajee Port and Railway Project in Western Australia

Published: Jan 3, 2020 14:06

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SMM1, October 3-Sinosteel Group recently acquired a stake in the Oakajee port and rail project in Western Australia by Japanese giant Mitsubishi, which is worth A $9.7 billion.

The state government warmly welcomed Sinosteel's announcement of (Sinosteel Corporation), which bought Mitsubishi's stake in the Oakajee port and rail project, which former Prime Minister Colin Barnett (Colin Barnett) said was good news for the Midwest.

Located about 400km north of Perth, Oakajee is a port for the iron ore industry in the region. The development of Oakajee and unlocking iron ore provinces to compete with the Pilbara region has been going on for 46 years.

Speaking at the opening ceremony of a new hub for Australian companies in Shanghai, Trade Minister Simon Birmingham (Simon Birmingham) expressed support for Sinosteel's involvement.

"Sinosteel has been Australia's long-term investment partner and has opened up our resources industry and created jobs for Australians for a long time," he said. "

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Sinosteel acquisition Western Australian Port

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