Fushun Special Steel to invest in production expansion in 2020-22

Wednesday, 08 April 2020 14:17:40 (GMT+3)   |   Shanghai

Liaoning Province-based Chinese steelmaker Fushun Special Steel Co. (Fushun Special Steel), a subsidiary of Dongbei Special Steel Group, has announced that, with the rapid development of China's aviation, aerospace and energy turbine fields, the demand for high temperature alloys, ultra-high strength steels and other raw materials in the development of large transport aircraft and large passenger aircraft will continue to grow in the next few years.

In order to further promote its business development and consolidate its position in the industry, the company plans to use its own capital to invest in and construct three production projects during the 2020-22 period, with a total planned investment of RMB 790 million ($112.1 million), of which investment of RMB 328 million ($46.5 million) will be completed in the current year.

$1 = RMB 7.0483

Most Recent Related Articles

Anyang Steel to go ahead with investment to set up Zhoukou Steel

Average residential housing price in Chinese cities up 2.99% in May

He Wenbo: Chinese mills should focus on overseas and local iron ore investments

FAI in roads and waterways in China down 7.8 percent in Jan-Apr

China’s FAI growth down 10.3 percent in January-April