Chinese steel group Chongqing Iron and Steel Co. has announced that it will invest RMB 1.925 billion ($305.677 million) for the relocation of its old steelmaking equipment assets from Dadukou to its new site in Changshou.
Among the assets in question are a steel section production line, a 1,350 m3 blast furnace, three 80 mt converters, two billet concasting machines and a high-speed wire rod production line.
Meanwhile, Chongqing Steel has also announced that seven classification societies including China Classification Society (CCS), Det Norske Veritas (DNV) and Germanischer Lloyd (GL) have completed certification work on Chongqing Steel's new 2,700 mm normalizing shipbuilding plate production line. The certification work, which started at the end of February this year, concerns shipbuilding plate of grades of D, E and E36 in a thickness range of 20-40 mm. After certification is granted, the new production line will be officially put into operation. In 2011, the steelmaker's shipbuilding steel output of 2.08 million mt ranked second in the Chinese steel industry.