China’s Anyang Steel to set up cold rolling production base

Henan Province-based Chinese steel producer Anyang Iron and Steel Group has announced that a cold rolling base named Anyang Steel Group Cold Rolling Inc., to be based in Anyang, will be jointly set up by the steelmaker and by Chongqing-based CISDI Engineering Co., Ltd.
 
The total investment in the project will reach RMB 1 billion ($146.52 million). Anyang Steel will invest RMB 650 million ($95.24 million), with the remaining RMB 350 million ($51.28 million) to be invested by CISDI Engineering. Details relating to the designed capacity are not yet available.
 
After construction is completed, CISDI Engineering will withdraw from the new company, according to the agreement between the sides.