According to China-based Cnwest news website reported on July 20, there are 7 projects laid foundations in Shanxi Province-based China's Taiyuan Stainless Steel Industrial Park. The total investment is RMB 3260 million ($504.64 million), and they involved many fields including stainless steel further processing and modern equipment manufacturing.
One of them called Taiyuan Taigang Daming Metal Products Co. is a joint venture between Shanxi Province-based Chinese steelmaker Taiyuan Iron and Steel (TISCO) and China-based Da Ming International Holdings Ltd, which was invested RMB 1080 million ($166.92 million). Da Ming International will hold a 60 percent stake in the JV, while TISCO will hold the remaining 40 percent.