Beijing-based Chinese steelmaker Shougang Iron and Steel Group (Shougang Group) has announced that its total investment in Hebei Province has amounted to RMB 150.0 billion ($23.1 billion), with more than 50 companies registered in Hebei.
Starting from 2003, Shougang Group started the relocation of the steel mills, with 20 million mt of finished steel production capacity forming in Hebei Province. Moreover, it upgraded its products from longs to high-end steel plates, now having the ability to produce steel plate for vehicle usage, electrical steel, steel for pipe lines and tin-coated steel etc.