Taiwan's largest steelmaker
China Steel Corp. (
CSC) has commissioned its first investment project on the Chinese mainland, namely, Changzhou Precision Alloy Steel Co., as reported by local media sources.
The first phase of the project cost an investment of $76.5 million, and is mainly focused on production of high-purity titanium and nickel alloys. The second phase is focused on special alloy, and was built with an investment of $21.5 million. Annual sales for the overall project are expected to total RMB 1.777 billion ($273 million), with a pre-tax profit of RMB 360 million ($55.4 million).