On February 6, the groundbreaking ceremony took place for Chinese steel producer Anshan Steel's cold rolled steel plate project based at Xiuyu port in Putian city, in the eastern Chinese province of Fujian. The project is considered to be a significant step in support of development of the economic zone on the west coast of the Taiwan straits.
The project will be built on the back of a total investment of RMB 3.8 billion ($556,56 million), and will supply cold rolled plates and galvanized sheets to the household appliance and automotive sectors.
Anshan Steel is managed by the state-owned Assets Supervision and Administration Commission of China's State Council.