Jiangsu Province-based Chinese steelmaker Changzhou Dongfang Special Steel is to commission the first phase of its high-speed elevator guide rail project next month, according to local Chinese media sources. Debugging is currently being carried out on the new facilities.
At the start of the current year, Dongfang Special Steel had established Dongfang High Precision New Materials Co. to implement its planned high-speed elevator guide rail project. The total investment in the overall three-phase project is expected to reach RMB 1.19 billion ($187.697 million). Upon completion of the whole project, the annual output capacity will be 500,000 mt, with anticipated annual sales revenues of RMB 5 billion ($788.6 million).