On September 24,
Germany-based steel producer
ThyssenKrupp AG signed an agreement with Liangjiang New District to develop an auto sheet
production project in
China's Sichuan Province. Liangjiang New District is a new economic development area situated in the municipality of Chongqing, located to the east of Sichuan.
The total planned investment in the project is $1.1 billion. According to the agreement, the project will be carried out in two steps: the company will first invest $300 million to build an auto sheet
production line, and then it will set up a cold rolled
production line to supply raw materials for auto sheet
production and will also build a steel processing line. In addition, it will invest in a laser welding
production line