On September 1, Xinjiang autonomous region-based Chinese steelmaker Bayi Iron and Steel Corporation (Bayi Steel) signed a framework agreement with Shanghai's Xinjiang Support Department and the authorities of Kashgar, Xinjiang.
According to the agreement, Bayi Steel will build a metalware plant in the Kashgar region. The new plant will have an annual production capacity of 1 million mt. In addition, the steelmaker will also improve steel processing, sales and stocking services in the region.