On May 29,
China First Heavy Industries (CFHI) signed an agreement with Cangzhou Zhongtie Equipment Manufacturing Material Co. for joint investment in four projects in Bohai Development Zone in
China's Hebei Province at a total cost of RMB 30 billion ($4.75 billion), as reported by local media in Hebei.
One of the projects is for cold rolled steel
plate production facilities with a planned overall annual output capacity of 3 million mt. The facilities will include one production line for steel
plate of 0.15-0.8 mm in thickness and 1,500 mm in width, while the other line will produce steel
plate of 0.15-0.8 mm in thickness and 1,300 mm in width. State-owned Beijing Automotive Group Co. will be among the customers of the new facilities.