LNM Group plans to invest in China
According to recent news in the market, world's second largest steel producer LNM plans to invest $300 million in
China to build a
galvanized plate facility with an annual capacity of 400'000 tons and a cold rolled steel sheet facility with an annual capacity of 200'000 tons by 2006.
Through this investment, LNM aims to expand its presence in
China.
As reported by SteelOrbis yesterday, LNM, having operations in 13 countries, plans to strengthen its presence in
Africa through
investments in
Zimbabwe and
Mozambique following the takeover of South African based steel producer Iscor.