The first phase of a 5.0 million mt high-strength rebar project owned by Anhui Province-based Anyang Fuxing Heli New Material Co., Ltd and Hunan Province-based Futian Xingye Investment Co., Ltd and located in Chenglingji new port area of China’s Hunan Province will begin production before the National Day holiday (October 1-7) this year, as reported by local media.
Investment in the overall project will total RMB 2.6 billion ($0.39 billion), while the second and the third phases will start production by the end of September 2021.