Shandong Province-based Chinese steel producer Shandong Steel Group has held a groundbreaking ceremony in Shule County in Xinjiang Autonomous Region for the upgrading project for its local
steelmaking program.
Zhou Zhongchen, chairman of Shandong Steel Group, stated at the ceremony that the upgrading project which will cost RMB 12 billion ($1.8 billion) in total is the one of principal programs of the Shandong provincial government aimed at supporting economic development in Xinjiang. The project is expected to begin production in June 2012, with an annual crude steel output capacity of almost 3.5 million mt.