Dongfeng Shipbuilding starts building new stainless sheet production line

Jiangsu Province-based Chinese shipbuilding company Dongfeng Shipbuilding Co. has launched the construction of a new stainless steel sheet production line in the city of Wulanchabu in the autonomous region of Inner Mongolia, China.
 
The project which is expected to cost RMB 7.8 billion ($1.19 billion) has a designed annual capacity of one million mt. The project includes the construction of two submerged arc furnaces and other basic equipment. Construction is planned to be completed by the end of this year. After the line is put into production, it is expected to bring in RMB 19 billion ($2.9 billion) in sales revenue per year, with an annual pre-tax profit of RMB 3 billion ($459 million).