SteelOrbis Shanghai On March 21, Zhang Xiangqing, chairman of the Tianjin Rockcheck Steel Group Co. Ltd held a meeting with
Philippines' president Gloria Arroyo as his company has signed an agreement with a Philippine company for an investment deal worth $200 million. The investment is for the
construction of a ferronickel plant at the Hinatuan Mining Corporation plant site in Manicani, Guiuan, Eastern Samar in the
Philippines.
Construction work is scheduled to start in Q3 this year. Tianjin Rockcheck Steel Group is a private-owned steel mill, mainly producing narrow and medium width steel strip. The mill's 2006 crude steel output totaled 2.99 million mt, up 850,000 mt or 39.4 percent year on year - ranked 36th among Chinese mills. Its
pig iron output stood at 3.26 million mt, up 660,000 mt or 25.3 percent - ranked 29th in
China. Meanwhile, the producer's finished steel output reached 2.08 million mt, up 890,000 mt or 74.4 percent - ranked 46th in
China.