Xinjiang Uyghur Autonomous Region-based Chinese steel producer Bayi Iron and Steel (Bayi Steel), subsidiary of Chinese steel giant Baosteel Group, has announced that installation of the main equipment has been completed at its new steel production base located in the county of Baicheng in southern Xinjiang.
Bayi Steel started construction work on the project in 2011, while the total planned investment is RMB 8.7 billion ($1.83 billion). The annual production capacity of the steel production base is expected to be 3 million mt. This will be the largest steel production project to be built in Xinjiang during China's 12th five-year plan period (2011-15).