On February 19, Zhejiang Province-based Chinese steelmaker Hangzhou Iron and Steel Group Company (HISGC) announced that in 2013 it plans to implement 43 technological upgrading projects, with a total investment of RMB 596.41 million ($95.58 million). These projects include 35 projects to be implemented within the town of Banshan town in the northeast part of Hangzhou in Zhejiang, with total investment amounting to RMB 265.14 million ($42.49 million). Additionally, the remaining eight projects to be implemented outside the town of Banshan, run by Hangzhou Steel Group’s wholly-owned subsidiaries, will see a total investment of RMB 331.27 million ($53.09 million).
Core projects to be carried out by Hangzhou Steel Group in 2012 include maintenance work on its blast furnace No. 2, construction of metallurgical waste recycling facilities and construction of processing facilities for engineering machinery.