On February 1, Liaoning Province-based Chinese steelmaker Angang announced the setting up of a new company named Angang Cold Rolling Sheet (Putian) Co. Ltd. in Putian, Fujian Province so as to better meet demand from both home and abroad. With a total investment of RMB 3.798 billion ($556.23 million), the designed capacity of this project is 1 million mt of cold rolled steel per annum, mainly used for the household appliance, automotive and construction sectors.
After its completion, the new plant is expected to produce 700,000 mt per year of cold rolled coils based on JIS 4141 and JIS 3135 and 300,000 mt per year of HDG based on EN10142 and EN10147, with product specifications of 0.25-2 mm thickness and 700-1,350 mm width. The construction is scheduled to be completed within 30 months.