Henan-based Chinese steel group Angang is due to commission its new joint venture special steel project in October of the current year, according to Chinese media sources.
The joint venture project, named Yongcheng Yudong Special Steel Co., built by Angang together with Henan-based Yongcheng Zhenxing Metal Product Co. with an overall investment of RMB 2 billion, will have an annual special steel output capacity of 1.6 million mt and an annual production capacity of 150,000 mt of stainless steel. Angang's share of the investment is RMB 1.55 billion.