The construction of the steel production base of Chinese steelmaker Rizhao Iron and Steel (Rizhao Steel) in the city of Rizhao, Shandong Province will be completed by the end of China's 12th five-year plan period (2011-15), with the production base planned to be put into production in 2015, according to local media sources in Rizhao.
Upon completion, the annual total capacity of Rizhao Steel's production base will be 21.35 million mt, adding 11.35 million mt to Rizhao Steel's previous capacity. The overall investment will amount to RMB 114.5 billion ($17.54 billion), with the annual sales revenues expected to reach RMB139.54 billion ($21.38 billion).