According to Jiangsu Province-based Chinese steelmaker Jiangyin Xingcheng Special Steel, production has reached full capacity at the third phase of its Xingcheng steel project. The third phase of the project includes a 3.5 m steel plate steckel mill and a 4.3 m wide and heavy plate mill.
Since commissioning in April this year, the two production lines in question have produced 1.65 million mt of steel products, earning sales revenue of RMB 10 billion ($1.57 billion). Meanwhile, output and sales revenue of the production lines for the current year are expected to reach 2 million mt and RMB 12 billion ($1.89 billion), respectively.
Total investment in the third phase of the project amounted to RMB 11 billion ($1.73 billion). The two production lines in question have an aggregate annual output capacity of 3 million mt of steel plate.