According to the Inner Mongolia Autonomous Region Economic and Information Commission, good progress has been seen in terms of investments in steel production in China's Inner Mongolia region in the first four months of the current year.
In particular, in the January-April period Chinese steel giant Baosteel Group has decided to invest RMB 2.127 billion ($337.62 million) in a new auto steel sheet project with a designed annual production capacity of 5.5 million mt, Huaye Special Steel is investing RMB 718 million ($113.97 million) in its stainless steel project with a planned annual production capacity of 1 million mt, while Baotou Iron and Steel (Baogang) is investing RMB 884 million ($140.32 million) in its 460 mm hot rolling production line project.