China’s largest stainless steelmaker, Zhejiang Province-based Tsingshan Holdings, will invest RMB 12 billion ($1.86 billion) in a new stainless steel processing center in Jingjiang city in Jiangsu Province, as reported by local media.
Tingshan Holdings is a multinational corporation focusing on stainless steel production and smelting, forming a complete stainless steel production supply chain - including raw material, logistics, nickel alloy smelting and processing centers, with an overall capacity exceeding 10 million mt, accounting for a 20 percent share of the global market.
The processing center will be completed in three phases, which will have annual capacities of 300,000 mt of stainless steel pipe, 200,000 mt of high-quality stainless steel wire rod, 300,000 mt of stainless steel precision hardware fasteners, and 200,000 mt of stainless steel wire.
