As China Metallurgical Group Corporation (MCC) has reported, on November 5 its subsidiary China Third Metallurgical Group Co. inked an agreement with Liaoning Province-based Chinese steelmaker Lingyuan Iron and Steel Co. (Lingyuan Steel) regarding the construction of new steel production facilities.
Accordingly, China Third Metallurgical Group Co. will build two 120 mt converters and related equipment for Lingyuan Steel. Construction work on the overall project will be completed by October 10, 2012. Once the first phase of the project is completed, the annual overall semi-finished steel production capacity of Lingyuan Steel will reach 2.8 million mt.