Chengwei Stainless Steel to build stainless steel mill in Hunan

On August 28, Foshan, Guangdong Province-based Chinese steelmaker Chengwei Stainless Steel Inc. (Chengwei Stainless Steel) signed an agreement with Wuxi Industrial Park in Luxi County, Hunan Province regarding the construction of a new 350,000 mt annual capacity stainless steel mill.
 
The mill, to be built with an estimated investment of RMB 500 million ($74 million), is to cover an area of 210,000 square meters in the industrial park in question. The project will create more than 800 jobs in the region and is expected to speed up the development of the local stainless steel industry in Hunan Province.