The city of Hegang in China's Heilongjiang Province plans to invest in a steel project with an overall annual output capacity of 5 million mt, provincial vice governor Zhang Jianxing has stated, according to the Chinese news website China.org.cn.
The project will be divided into two phases. Phase one will cost RMB 5.4 billion ($856.66 million) and will involve the construction of two blast furnaces and the production of 2 million mt of finished steel per year.