Chinese steelmaker Anyang Xinpu Iron and Steel Co. (Xinpu Steel) has announced that its new steel bar project with an annual output capacity of 800,000 mt is expected to be commissioned in August this year. The project is expected to cost a total investment of RMB 300 million ($48 million) and will produce rebar and round bar.
The steelmaker, which is based in Beimeng Industrial Zone in the district of Yindu in Henan Province, has two 132 square meter sinters, two 600 cubic meter blast furnaces, two 80 mt converters and a 80 mt refining furnace. In June 2010, the company commissioned a production line with an annual output capacity of 600,000 mt of high-speed wire rod.