JFE Holdings plans to build $500 million plant
Japanese steel producer JFE Holdings is planning to construct a $500 million plant in southern
China with Chinese steelmaker Guangzhou Iron & Steel Co. to produce steel sheet for
automotive industry.
The plant will be able to produce 1.8 million mts of cold rolled steel per annum. However, the
construction date of the plant has not been scheduled yet.
In addition, plant will also supply steel sheet to $178 million joint venture that JFE Holdings is setting up with its Chinese partner. This joint venture which will start
production by April 2006 will supply auto panels to automakers in
China where automobile sales soared by 76% to 1.97 million units last year.