Construction progresses on stainless steel base in Beihai, China

Beihai, located on the southwest coast of China, has been indicating continuous growth and expansion in recent years, according to China-based newspaper Beihai Daily. Development projects in the area currently exceed a value of RMB 10 billion ($1.54 billion), including the stainless steel project of Guangxi Province-based Chengde New Materials Industrial Company, which is a subsidiary of Beihai Chengde Nickel Industry.
 
The first phase of the stainless steel project was put into production in March this year, while construction of the second and third phases is underway, with completion expected in early 2012 and late 2012 respectively.