Jiangyin, Jiangsu Province-based Chinese steel producer Xingcheng Special Steel Works Co. has announced that on November 3 it signed a framework agreement for the construction of astainless steel wire rod rolling and in-depth processing project with Taiwan-based electrical wire and cable producer Walsin Lihwa.
The joint venture project, which will be built in Jiangyin with a total investment of RMB1 billion ($160 million), is expected to have an annual output capacity of 120,000 mt of stainless wire rod, in addition to stainless wire rod processing capacities.