Chinese steelmakers Jinzhong Wanbang Industry & Trade and Taiyuan Iron & Steel (TISCO), both based in Shanxi Province, have agreed to build a nickel-chromium alloy plant which will have an annual production capacity of 300,000 mt, with an output value of RMB 5 billion ($7.63 billion) per year.
Jinzhong Wanbang Industry & Trade operates a power plant, six ferroalloy submerged arc furnaces and two production lines for stainless cold rolled sheet. The company's annual sales revenue in 2010 amounted to RMB 1 billion ($152.67 million).