Zhejiang Province-based Chinese pipe producer Jiuli Stainless Steel Pipe Co. has announced that it has received approval for its planned AP1000TM project for the production of nickel-based stainless steel pipes for nuclear power projects from China's National Nuclear Safety Administration.
According to the company, the project will adopt ultra-low carbon and nitrogen-controlled stainless casting technology to produce steel pipes for nuclear power projects.
In the first half of the current year, Jiuli Stainless Steel Pipe Co. achieved an operating revenue of RMB 1.288 billion ($203 million) and a net profit of RMB 76 million ($20 million), up 17.11 percent and 10.82 percent year on year, respectively.