An agreement has been signed to build a cold rolled silicon steel coil project with an annual output of 100,000 mt in the city of Shahe in China's Hebei Province, as reported by local media sources in Hebei on January 3.
The facility will be built on a site covering 300 acres. The investor in the project is Beijing Wanfeng Sunshine Property Co., while the total investment is expected to reach RMB 1.243 billion ($203.8 million). The output will mainly consist of high-grade cold rolled silicon steel coil, for application in the national defense and military sectors. After completion of the project, annual revenues are expected to total RMB 1.3 billion ($213.1 million).