Xinjiang Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Co., Ltd. (Bayi Steel) announced on March 7 that it plans to invest via self-financing in the construction of a continuous slab caster within the scope of its medium plate production project, with an overall investment of no more than RMB 181 million ($25.2 million). The company will also dismantle its continuous billet casting machine No. 2.
After the commissioning of the slab caster, Bayi Steel will have an annual 1.65 million mt continuous casting capacity for slabs.