BaoTau announces three-million-ton bonus project
China's BaoTou Steel Group signed an agreement with authorities of Inner Mongolia province's Alashan region to set up a bonus steel project. According to the agreement, BaoTou will build the first phase of a 1 million-ton capacity bonus bar steel production line in Alashan. Total investment for the first phase will be RMB 3 billion ($362.5 million). Total bonus steel production capacity will reach 3 million tons when the project is completed.