Anhui Province-based Chinese steelmaker Masteel has announced that it has started construction on its new joint venture steel project, Esco Special Steel Co., Ltd.
Esco Special Steel, founded in March 2016 in Maanshan, is a joint investment by Masteel, Anhui Province-based Yushan Urban Development and Investment Group Co., Ltd and French company Esco Corporation, with an overall investment of €90 million and a registered capital of €32 million. It will specialize in spring steel, bearing steel and other high value-added long steel products. The Esco Special Steel construction project will be divided into two phases, with the first phase to be completed by the end of July 2017 and the second phase to be finished by the end of 2018.