Jiangxi Province-based Chinese steelmaker Fangda Special Steel Technology Co., Ltd (Fangda Special Steel) has announced that it will raise funds amounting to not more than RMB 3.1 billion ($0.44 billion) for several projects, including plant construction and renovation projects, an ultra-low emission environmental improvement project and an energy saving and carbon reduction upgrade project, while RMB 930 million ($131.4 million) of the total will be used for the repayment of loans.