Jiangsu Feida starts work on 2.8 m wide medium plate line

SteelOrbis Shanghai Jiangsu Feida has announced the start of construction work on its 2.8 m wide medium plate production line Adding to its existing 2.5 m wide medium plate production line, Jiangsu Feida began construction work on its new 2.8 m wide medium plate production line on October 19. According to the company, the planned capacity of the new 2.8m medium plate line will be twice that of the current 2.5 m wide production line. The total project investment is estimated at RMB 1.2 billion ($152 million), while the end of December 2007 has been set as the completion date. When the new line is ready, Jiangsu Feida will have a production capacity of 300 million mt of plate, with sales revenues at RMB 12 billion ($1.52 billion). Its product categories will include shipbuilding plate, pressure vessel plate, plate for equipment usage, and other high value-added plate. Feida's medium plate line is expected to challenge the products from the leading mills which currently dominate the market.