Chinese steelmaker Chongqing Iron and Steel has announced that it plans to invest RMB 1.406 billion ($0.21 billion) in the construction of a long steel production project in the Changshou district of Chongqing, China.
This project will include a 120-mt electric arc furnace and related 120-mt ladle furnace, a 120-mt vacuum furnace and a 400 mm/210 mm round billet continuous casting machine. In addition, a 50-150 mm bar production line and a 5.5-50 mm wire rod and bar production line will be built. Construction is due to start in November this year, with the overall construction period lasting 22 months. After the project has been completed, the electric arc furnace steel output will be 1.04 million mt annually, and steel product output per year will be 1 million mt, of which 50-150 mm bar will account for 0.6 million mt while 5.5-50 mm bar and wire rod will account for the remaining 0.4 million mt.