On November 5, the local authorities in Zijin county in Heyuan city in China’s Guangdong Province signed an agreement with Fujian Province-based Jinshenglan Group, regarding the latter’s plans to build a special steel production base with an annual capacity of 6 million mt in Zijin county. The total planned investment is RMB 13.0 billion ($1.86 billion).
After the completion of the project, annual sales revenues are expected to total RMB 30 billion ($4.3 billion), with 4,200 jobs being created.
Fujian Jinshenglan Group established in 2008. Its main business scope covers steel, mining, real estate, textiles, and import and export.
In January this year, Jinshenglan Group signed an agreement to build a steel project with an annual output of 8 million mt in Yunfu city in Guangdong, with a total investment of RMB 15.0 billion.