SteelOrbis Shanghai
Chinese steelmaking giant Baosteel has announced that its Shanghai-based joint venture Baori Auto Sheet Company will invest RMB 1.6 billion ($219.5 million) to construct a new HDG sheet line for the production of high grade sheet for automobiles.
It is expected that the preliminary project design will be completed at the beginning of 2008, that equipment installation will be finished by the end of 2009, and that the new line will commence production operations in 2010. The designed annual capacity is expected to reach 450,000 mt.
Baosteel owns a 50 percent stake in Baori Auto Sheet Company, Nippon Steel holds a 38 percent share, while ArcelorMittal possessing the remaining 12 percent.