SteelOrbis Shanghai
On February 28, Jiangxi Province-based Xinyu Steel commenced
construction work on its three million mt capacity coil rolling project. With this project, the company will build its first coil rolling line. Total investment in the project is estimated to reach RMB 12.6 billion ($1.63 billion), making it the first project to exceed RMB 10 billion ($1.3 billion) in Jiangxi's industrial history.
The first phase of the project is scheduled to be finished by the end of 2008, with annual
production capacity at that stage reaching around 1.5 - 1.75 million mt of HR coils and 1.2 million mt of CR coils. When the second phase is completed at the end of 2009,
production capacity will exceed three million mt of HR coils. Xinyu Steel, is using world-standard advanced technologies in this project, through which it aims to improve its competitiveness and become the major high-grade steel sheet producer in
China.
Xinyu Steel's project, which is divided into two phases, is one of the key
construction projects in Jiangxi Province's “Eleventh Five-Year Plan.”