Anhui Province-based Chinese steelmaker Masteel has announced its plan to invest in a cold rolled steel project in Hefei Circular Economic Zone in Anhui.
Costing RMB 5 billion ($784 million), the planned annual output capacity of the project is 1.2 million mt of cold rolled products, including 800,000 mt of steel sheet for the automotive sector and 400,000 mt of steel plate for the household appliance sector...
According to an official at Hefei Circular Economic Zone, the project will be completed at the end of 2012 and will be commissioned in 2013, while annual revenue from the project is expected to reach RMB 10 billion ($1.567 billion)