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Sichuan Province-based Chinese steel producer Panzhihua Gangcheng Group has announced that in 2012 its total fixed asset investments are expected to reach RMB 2.061 billion ($326 million), covering 52 projects.
 
Gangcheng Group's fixed asset investment plan for 2012 will cover areas including metallurgical raw materials, vanadium and titanium, real estate, iron and steel and logistics. Of the total fixed asset investment figure for 2012, RMB 1.29 billion ($204 million) will be invested in 27 new projects.
 
In 2011, Gangcheng Group's total revenue and industrial output value increased to RMB 17.227 billion ($2.721 billion) and RMB 10.916 billion ($1.724 billion) respectively, compared to RMB 4.902 billion ($774 million) and RMB 3.463 billion ($547 million) in 2005.