North
China's Shanxi province based Taiyuan Iron and Steel Group Co Ltd has announced an increase in its
stainless steel
production capacity to 3 million tons per annum, which thus makes it the largest
stainless steel producer in the world.
The company had produced nearly 1 million tons of
stainless steel in 2005. With the recent completion of the company's large-scale
stainless steel project, its capacity increased by 2 million tons to 3 million tons.
Construction work on the project had started in September 2004, necessitating a total of RMB 16.5 billion ($2.1 bilion) in investment.
Taiyuan Steel produced a total of 5.39 million tons of steel in 2005.