Leading Chinese steelmaker Baowu Group will invest in a carbon material industrial park with planned annual capacities of 50,000 mt of needle coke and 500 mt of carbon fiber to be based in Wuhai city in northern China’s Inner Mongolia Autonomous Region, as reported by local media.
The project, which will be built in stages, will involve an overall investment of RMB 3.0 billion ($0.45 billion). The first stage will have an investment of RMB 700 million ($106 million) and will achieve annual sales revenues of RMB 1.0 billion ($0.15 billion) after the scheduled completion of construction in 2020.
Needle coke is a primary raw material for graphite electrodes which are used in electric furnace-based steelmaking.