Construction work has commenced on a new steel sheet project at Fuxi Industrial Park in Nanfeng in China’s Jiangxi Province, as announced by local media sources on March 19. The project is being financed by Hubei-based traders with a total planned investment of RMB 250 million ($40.19 million).
The overall project consists of three phases. In the first phase, a galvanized sheet production line will be built, with production operations due to start in December this year. The second phase consists of color coated sheet line due to start operating in mid-June 2014, while in the third phase a cold rolling line will be built, with commissioning due before March 2015. The annual output capacity of steel sheet is expected to be 750,000 mt, with annual sales revenue of RMB 3 billion ($482.3 million).