Steelorbis Shanghai
Henan Province-based Anyang Steel and Iron Co. (Angang) has commenced work on its 1,750 mm cold rolled project in Anyang city's high-tech development zone, investing a total of RMB 9.8 billion ($1.43 billion) in the project.
The project forms a key part of Angang's aim to improve its product quality and upgrade product structure, adding to its current overall annual capacity of 10 million mt. The company will invest RMB 4.9 billion ($710 million) in the first phase of the project which targets a capacity of 1.5-1.7 million mt of high-strength and extra-deep drawing cold rolled coils, mainly for use in automobiles and high-grade appliances.