On March 18, Chinese company Shanxi Loujun Mining Co. Ltd launched construction work on its new coking and steel production project, as announced by Beijing-based state-owned China Metallurgical Group Corporation (MCC).
The project, expected to cost a total investment of RMB 14 billion ($2.2 billion), includes three parts: construction of coking facilities, facilities for the utilization of coke gas, and steel production facilities. The coking facilities will have an annual production of 2 million mt of coke, the coke gas utilization facility will produce 200,000 mt of ethylene glycol per year, while the steel plant is expected to produce 5 million mt of steel annually.
After commissioning, annual sales revenues from the overall project are expected to amount to RMB 20 billion ($3.2 billion).