The signing ceremony for the new ‘green’ steel section production base project of Hebei Province-based Jinxi Group was held on September 3 in Fangchenggang, Guangxi Zhuang Autonomous Region in southern China, as reported by local media. Total investment in the steel project in Fangchenggang city will amount to RMB 30.0 billion ($4.2 billion).
The steel section production base will have an annual capacity of 10.0 million mt, which will be constructed by two phases, with each phase having a 5.0 million mt annual capacity. The new project will also be built via a capacity replacement program. At present, Jinxi Group has 11 million mt of annual steelmaking capacities located in Tangshan, Hebei Province, SteelOrbis is informed. The transfer of capacities to the coastal area from the heavy polluted northern part of China is in line with the central government’s aim to improve air quality and protect the environment.