Shaoguan to produce high value-added steel
Chinese steelmaker Shaoguan has announced that it plans to construct a mill to produce high value-added steel. More than Yuan 40 billion (approx. $4.83 billion) will be invested to this project.
The mill which will be built in Zhanjiang, Guangdong province along
China's southern coast, will produce sheet products with an annual capacity of 2.5 million tons. The company will increase the mill's annual capacity to 7 million tons in the second stage and later on to 10 million tons.
Shaoguan also signed a letter of intent with the mayor of Zhanjiang regarding land, water and power supply.