ThyssenKrupp to set up auto sheet production line in China

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