Local authorities in the city of Shaoyang in China's Hunan Province recently met with top officials of Chung Hung Steel Co. Ltd. (CHS), a major Taiwan-based HRC/CRC re-roller and subsidiary of Taiwanese integrated steelmaker China Steel Corporation, regarding the proposed investment by CHS in Shaoyang.
Accordingly, CHS intends to build a cold rolled non-oriented silicon steel project in Shaoyang with an annual output of 160,000 mt, and has done a lot of preparatory work as regards equipment production, technical support and supply of raw materials. RMB 500 million will be invested in the project in its initial stage, while the construction period will be 14 months. After completion, sales income will reach an annual RMB 1.23 billion.