Jiao Guohua, the deputy general manager of Hunan Province-based Valin Liangang Steel Sheet CO. and Fang Jianrong, Loudi city economic development zone's deputy secretary of the party committee are reported to be in talks with Valin ArcelorMittal Automotive Steel's general manager of auto sheet plant (Xia Yuguo) and electrical steel plant (Edward) about their projects.
The total investment of the Valin ArcelorMittal Automotive Steel is RMB 1.23 billion ($0.19 billion), of which the auto sheet project accounted for RMB 5,4 billion ($837.46 million) and the electrical steel project accounted for RMB 6890 million ($1066.56 million). The capital of auto sheet project is RMB 2380 million ($368.42 million), which is invested by Valin Group, Luxembourg-based Arcelor Mittal and Hunan Province-based China's Valin Iron and Steel Group Co. Meanwhile, the capital of electrical steel project is RMB 2900 million ($448.92 million), which is invested by Valin Group and Arcelor Mittal.