HBIS Laoting Steel to build RMB 7.967 billion wide and heavy plate production line

Hebei Province-based Chinese steelmaker HBIS Company Limited has announced that, in order to optimize its product mix and build a leading domestic wide and heavy plate production base, its holding subsidiary HBIS Laoting Steel Co., Ltd. plans to invest RMB 7.967 billion ($1.2 billion) to build a new 5,600mm hot rolled wide and heavy plate production line. Upon completion, the project will have an annual output of 2.42 million mt of hot rolled wide and heavy plate.