Taiwanese conglomerate Formosa Plastics Group (FPG) plans to add a 720,000 mt stainless steel production line to its facilities at Zhangzhou in Fujian Province in China. Added to its existing production line built in 2007, the output will exceed that of the largest stainless steel company in Japan.
Wu Guoxiong, general manager of Formosa Plastics Group (FPG), said the target of the company is to build a cluster of iron and steel producing facilities in Fujian Province.
The new project will be the biggest stainless steel project in Fujian, with an annual output value of RMB 30 billion.