Construction of Zhongyuhua Steel Plate Co. has recently started in Wanxing Industrial Park, Wuqing district, Tianjin city, China. The new company has a registered capital of RMB 100 million ($14.662 million), and upon completion will be the largest silicon steel production base in northern China.
Zhongyuhua Steel Plate Co., registered in September 2009, will be the first private sector high-tech company in China producing cold rolled silicon steel. The site of the new facility covers 248 acres. The company is being built with a total investment of RMB 560 million ($82.111 million) and is expected to create more than 200 jobs. It will have a silicon steel production line with 300,000 mt annual output, a HGD sheet production line with 400,000 mt annual output, a pre-coated production line with 300,000 mt annual output. Annual total sales volume is expected to be about RMB 5.28 billion ($0.774 billion). Major products will be sold to the Bohai region, the northeastern region and to Shandong Province in China. Products will also be exported to Russia, Palestine, the Philippines, Malaysia and India. Phase One construction will take two years and is expected to commence production in 2012. Phase Two construction will start in June 2012, when a silicon steel production line with 1 million mt annual output will be built, and production is expected to commence in October 2013.