Anshan to build high-quality steel products plant

Anshan to build high-quality steel products plant

Chinese steel producer Anshan Iron and Steel Group Corporation has recently signed a letter of intent with the Shenyang municipal government to build a high-quality steel products processing and distribution plant in the capital of Liaoning Province. The products of the plant will mostly be supplied to automotive industry. Sales revenue of the company was recorded as Yuan 31.5 billion ($3.8 billion) in 2003 with steel production reaching 10 million tons. As previously reported by SteelOrbis, the company expects its steel production to exceed 10 million tons in 2004 and its sales revenue to reach Yuan 40 billion ($4.8 billion). The area where Anshan plans to build its new plant holds great importance for the automotive industry in the region as the producer will supply its products to automobile producers.