Hebei Steel Group to invest RMB 5 billion in phase two of CRS project
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Major Chinese steel producer Hebei Iron and Steel Group has announced that the first phase of its cold rolled sheet (CRS) and tinplate production base project located in Wuyi County, Hengshui City, Hebei Province has seen the completion of construction works and the start of commissioning. Hebei Steel Group also announced that RMB 5 billion ($795 million) is planned to be invested in phase two of the same project.
Hebei Steel Group launched construction of the project in question project in October 2009, targeting a designed annual capacity of 250,000 mt of CRS and tinplate in the first phase. The total investment in phase one totaled RMB 1.17 billion ($186 million).
With the second phase, the annual capacity of CRS products and tinplate of the overall project will reach 500,000 mt.
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