Angang to expand galvanized production line

SteelOrbis Shanghai Anshan Iron & Steel Group (Angang) announced plans to invest $34 million cash to increase its galvanized steel production. On June 4, 2004, Angang and German Thyssen Krupp had jointly invested $180 million to start a hot dip-galvanizing project with 400,000 tons of yearly output. Now Angang is planning to add $34 million in cash to increase the registered capital of this joint venture. The products of the project will be used in the automobile and household appliances industries.