Being built with a total investment of RMB 4.88 billion ($720 million), the Yantai Baosteel Pipe project in the eastern Chinese province of Shandong has been progressing smoothly and is expected to be put into production in October 2009. The completion of the project will end China's long-term dependence on imports of high grade anti-corrosion OCTG and high-alloy pipe products.
This project will mainly produce large diameter anti-corrosion high-alloy seamless pipe products able to resist high pressures, with a designed annual capacity of 600,000 mt.