Qingdao Iron and Steel Group has signed a US$80.3 million (RMB500 million) deal with Singaporean construction materials firm Engro Corporation (S44.SGX) to build a slag-processing plant, The Straits Times reported, citing Qingdao Iron and Steel chief executive Wang Junting on Monday. “As a Chinese firm, we are now interested not in rapid expansion but professionalization and using methods that are environmentally friendly,” said Wang. Slag is produced during the processing of iron ore and can be used to make cement. China is pushing firms in heavy industry to clean up their production processes in a bid to combat pollution.
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