Baosteel Group Xinjiang Bayi Steel and CNPC Tubular Goods Research Institute Signed the Framework Agreement for Strategic Cooperation

Wednesday, Jun 30, 2010

Recently Bayi Steel and CNPC Tubular Goods Research Institute signed the framework agreement for strategic cooperation officially. With the principles of collaborating of the strong ones to complement the advantages, share the resources and cooperate for win-win, both parties will comprehensively strengthen the cooperation in oil tubular goods project to enhance Bayi Steel's market competitiveness in domestic field of oil and gas transmission pipeline manufacture.

CNPC Tubular Goods Research Institute, as the only institution with national class A qualification for management of special equipment such as oil and gas tubing, undertakes the R&D, quality monitoring and inspection, and production standardization of national oil tubular goods. Now the institute has set up favorable cooperative relationships with a batch of top class steelmakers and oil and gas transmission pipe makers in China, and has made major breakthroughs in domestic oil and gas transmission projects and new product R&D.

According to the framework agreement for strategic cooperation signed this time, CNPC Tubular Goods Research Institute will provide service for the oil tubular goods production and development of Bayi Steel in terms of product R&D, quality monitoring and inspection, technical service and consultation, and focus on providing relevant technical support to Bayi Steel in view of the western market. Meanwhile, it will carry out joint innovative and cooperative research with Bayi Steel, to push forward the conversion, testing and promotion of research achievements and promote the overall elevation of Bayi Steel's oil tubular goods production and manufacture level.

Source: Baosteel