NanJing to invest nine steel projects

NanJing to invest nine steel projects

According to recent news in the market, Chinese NanJing Steel is planning to invest Yuan 31 billion ($3.75 billion) on nine new steel projects in JianHe in three years' time. The company expects its sales revenue to reach Yuan 39.5 billion ($4.7 billion) after the completion of these projects. In NanJing region steel production is 6 million tons per annum. However, as the products are mostly finished products, the mills in the region need to upgrade their products. Accordingly, NanJing Steel is estimated to invest in the region.