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.