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A groundbreaking ceremony for a stainless steel clad plate production facility has been held in the New Material High-Tech Industrial Zone in the city of Wugang in China's Henan Province, according to local media reports.
 
The project will cost RMB 12 billion ($1.91 billion), with RMB 3.5 billion ($555.73 million) to be invested in the first phase. Upon overall commissioning, the annual output value of the project is expected to reach RMB 20 billion ($3.18 billion).