Hunan Province-based Chinese steel producer Xiangtan Iron and Steel Co. (Xiangtan Steel) has announced that it has started work on a project to build a new world class wide and thick plate production line, which is expected to cost RMB 5 billion ($766 million).
The new production line will mainly produce shipbuilding plates. The principal equipment will be provided by Danieli Group, Siemens VAI and SMS Elotherm GmbH.
In 2010, the company's 5,000 mm wide and thick plate production line which cost RMB 10 billion ($1.53 billion) was put into production.