CHONGQING (CQNEWS) -- JFE Container Co., Ltd. under the Fortune 500 KAWASAKI Steel, united with ITOCHU Corporation and HighChem Company Limited, signed an investment agreement with Changshou Economic and Technological Development Zone of Chongqing to jointly invest 56 million US dollars to construct a steel container project, according to the Administrative Committee of Changshou Economic and Technological Development Area, Chongqing on March 20, 2013.

JFE Container Co., Ltd., jointly established by Nippon Kokan Co., Ltd. and KAWASAKI Steel, is the world's 2nd largest steel group, and one of the few companies producing sedan planking, with the annual steel output of 27 million tons.

What is more, JFE Container is also one of the strategic partners of BASF, providing BASF with steel drums from all over the world. It has built supporting plants in Shanghai, Nanjing and Yangzhou. The settlement in Changshou Economic and Technological Development Zone is also to support the MDI project of BASF in the area.

The project of KAWASAKI Steel, with an area of 50 mu and an annual output of 3 million steel drums, will be put into production in the second half of 2014.