Construction starts on 1 million mt special steel project in Xinjiang

Chinese special steel producer Xinjiang Tianrui Continuous Casting Special Steel Group Co. has come together with Xinjiang Production and Construction Group State-Owned Assets Management and Operation Co. to build a special steel project with an annual output capacity of one million mt in the Chinese autonomous region of Xinjiang, according to Xinjiang Daily.
 
The new project will cost a total of RMB 3 billion ($476 million). Phase one of the project, on which construction work has already started, will have an annual output capacity of 300,000 mt, costing RMB 800 million ($127 million). Meanwhile, phase two, on which construction will be carried out in March-October this year, will cost RMB 1.5 billion ($238 million).