SteelOrbis Shanghai
Chinese steelmakers Hansteel Group and Baosteel Group have begun to construct a new flats steel production base with a total investment of RMB 19.4 billion ($2.65 billion).
The new plant will be built at Hansteel's facilities in Handan City in the northeastern Chinese province of Hebei. Hangang Hanbao Steel Co., Ltd will be the name of the 50/50 joint venture plant which will have an annual flat steel production capacity of 4.6 million mt.
The first-stage of the construction of the joint venture is expected to be finished in the first half of 2008. The new plant is expected to be put into full operation at the end of 2010 upon completion of overall construction.
The first-stage construction plans include a 3,200 cubic meter blast furnace, a coke oven, a sintering machine, and a 2250 hot strip mill.