CAIRO, April 10 -- China's Xinxing Ductile Iron Pipes Co., Ltd. (Xinxing Pipes) has signed a land lease contract with Egypt-TEDA SEZone Development Company to build a new factory in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone.

With advanced technology, a solid industrial foundation, capable talent and favorable policies, steel enterprises in Changzhou, East China's Jiangsu province, are quickly marching toward a smarter and greener stage.

Their remarks came after the State Council recently announced an action plan for energy conservation and carbon reduction for 2024-25. It relaxed requirements on new energy utilization in resource-rich areas from 95 percent to 90 percent.

Mining giant Rio Tinto has announced a $143-million investment to establish a research and development (R&D) facility in Western Australia to test the effectiveness of its low-carbon ironmaking process, BioIron.

Currently, disclosures by Chinese companies are largely voluntary and lack uniform standards, according to the ministry.

In hindsight, the BHP and Anglo American deal had seemed somewhat ill-fated from the start.

As a result of this, many big Indian steel conglomerates such as Tata Steel, JSW Steel and ArcelorMittal Nippon Steel were installing a number of scrap-consuming EAFs.

They highlighted that the relaxation of the requirement on the utilization rate of new energy may create about 74 gigawatts of new installations, bringing multiple benefits to key sectors.