A groundbreaking ceremony has been held in Taiyuan in
China's Shanxi Province for the new
stainless steel processing center of Shanxi-based Chinese steelmaker Taiyuan Iron and Steel Co. (
TISCO) and Jiangsu-based Daming Metal Products Co.(Daming). The planned investment is RMB 1.08 billion ($169 million). This is another key project of
TISCO to accelerate the extension of its industrial chain and to build a world-class
stainless steel production and processing base.
By 2015, the new center is expected to possess an annual
stainless steel processing capacity of 500,000 mt and a sales income of RMB 8.0 billion ($1.254 billion) per year.
Daming Metal Products Co. is mainly engaged in steel processing, marketing and distribution.