Liaoning Province-based Chinese steelmaker Benxi Iron and Steel Co. (Benxi Steel) has announced that it plans to start construction of a high-strength steel plate production project in Qiaobei Steel Processing Industrial Zone in the district of Pingshan in Benxi.
The project is expected to cost RMB 6 billion ($953 million). The main product will be high-strength steel plate with tensile strength of 1,500 Mpa and width of 2,150 mm. The annual output capacity of the new facility is expected to be 2.20 million mt, while annual sales revenues are foreseen to reach RMB 11.8 billion ($1.9 billion).