Maanshan Steel wins approval for its project

Tuesday, 30 November 2004 15:06:00 (GMT+3)   |  

Maanshan Steel wins approval for its project

According to recent news in the market, Chinese steel maker Maanshan Iron & Steel has been given an approval of its project worth Yuan 20.5 billion ($2.5 billion) by the National Development and Reform Commission (NDRC). Maanshan's project covers establishment of plate and roll products production line with an annual production capacity of 5 million tons in Anhui province. The products of the line will be used in cars and home appliance sectors. The new plant, which will be operational in 2007, will be funded through bank loans and the company's internal sources.

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