Xinjiang Autonomous Region-based Yili Iron and Steel Co., Ltd (Yili Steel), subsidiary of the Chinese steelmaker Shougang Steel Corporation, has recently launched a steelmaking expansion program in Xinyuan County, Yili City, Xinjiang Autonomous Region, China.
The program is to be implemented in two stages. For the first stage, the company plans to expand the annual production capacity from the current 500,000 mt to 2 million mt. Additionally, it will add a rod production line and a wire rod production line. For the second stage, the production capacity will be raised to 5 million mt by the end of 2015.
The total investment in the program is estimated at RMB 20 billion ($3 billion).