Groundbreaking takes place for high strength steel project in Xinjiang

Friday, 03 September 2010 12:08:50 (GMT+2)

On September 2, a groundbreaking ceremony was held in Kezhou in the Xinjiang Uyghur Autonomous Region in northwestern China for the construction of the 3 million mt annual capacity high strength steel project of Ganxin Iron and Steel Co., which will have an annual capacity of 1 million mt in its first phase.

The construction of Ganxin Iron and Steel Co., Ltd is being co-financed by Jiangxi Province-based Chinese steelmaker Xinyu Iron and Steel Group and local private investors, and is part of efforts to boost development in the west of China. The first phase of the project with a capacity of 1 million mt will cost an investment of RMB 2.5 billion. After the completion of the whole project, annual sales revenues are expected to reach RMB 3.2 billion.

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