Chinese company Xinxing Ductile Iron Pipes (Xinjiang) Co. has announced that it is to complete the first phase of its 3 million mt special steel project by the end of 2011.
Total investment in the project is RMB 9.01 billion ($1.41 billion). Work on the first phase began in February this year, with RMB 2.14 billion ($0.335 billion) being invested up to July. The first phase of the project will have an annual production capacity of 1.2 million mt.