Fujian Zhenghe Pipe commissions phase one of pipe project

Chinese steelmaker Fujian Zhenghe Pipe Co. has announced that it has commissioned phase one of its steel pipe production project.
 
The project is divided into three phases, expected to cost a total investment of RMB 2 billion ($316.98 million). Phase one, built with an investment of RMB 550 million ($87.17 million), consists of a precision steel pipe production line with an annual output capacity of 1 million mt. The products will be applied in fields including oil country tubular goods (OCTG) casing, oil and gas pipelines and in the galvanized steel pipe sector. After commissioning of the overall project, its annual output value is foreseen to reach RMB 7.3 billion ($1.16 billion).