Leading Chinese steelmaker Baowu Group’s scrap metal subsidiary, Shanghai-headquartered Ouyeel Lianjin Renewable Resources (Ouyeel Lianjin), has announced that it has put into operation a new scrap steel processing base in the Economic and Technological Development Zone of Yu County in Yangquan City in Shanxi Province. The new processing base of Ouyeel Lianjin (Yangquan) Recycling Resources Company has a total investment of RMB 386 million ($54 million), covering a total area of 192 mu (a unit of area equal to one 15th of a hectare).
Currently, the scrap processing base with an annual capacity of 1.0 million mt has been put into operation, while its annual output value is expected to reach RMB 3 billion ($0.42 billion).
The base will be built in phases to process and recycle steel scrap, dismantle end-of-life vehicles, and will have advanced-level processing lines for dismantling new energy and fuel vehicles.