Japan-based steel producer Daido Steel has announced that it plans to invest JPY 5.2 billion ($39.58 million) to build two new special melting facilities at its Chita No. 2 plant.
The facilities will increase the company’s high-grade steel capacity, enabling it to meet the increased demand for high-grade steel used in semiconductor manufacturing equipment.
The facilities are scheduled to be commissioned at the end of 2024.