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


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