On July 19, Li Qiang, premier of China, attended the groundbreaking ceremony for the Lower Yarlung Zangbo River Hydropower Project held in Linzhi City, Tibet Autonomous Region.
The project in question will have an overall investment of RMB 1.2 trillion ($0.17 trillion). Market analysts forecast that the volume of steel purchased for the project will reach a value of RMB 18-24 billion ($2.5-3.4 billion), totaling around 2.0-2.5 million mt.
The steel products will meet requirements including low-temperature toughness, corrosion resistance and anti-seismic performance.
The project will have an overall construction period of 15 years, spanning the years 2025-40.