On March 18, four new projects - both steel and non-steel - were launched in terms of construction or production in Wuhan Economic and Technology Development Zone in the Chinese province of Hubei, with a total estimated investment cost of RMB 6 billion ($950 million), as reported by local media sources.
Among these projects, Chinese steelmaker Angang has launched construction of slitting, shearing and laser welding lines with an annual output capacity of 200,000 mt to supply cold rolled sheet to automobile and home appliance companies in Wuhan. The total investment in this project by Angang is expected to reach RMB 365 million ($57.94 million).