Zhejiang Province-based Chinese stainless steel producer Yongjin Technology Group Co., Ltd. plans to invest RMB 2.658 billion ($0.38 billion) to build a short-process green high-quality stainless steel project with an annual output of 2 million mt.
The project in question will be constructed in two phases: in phase I it will build a 1,780 mm hot rolled production line, a continuous annealing and pickling line, and supporting facilities, with an annual output of 1.95 million mt of hot rolled stainless steel coils; in phase II it will build a 2 million mt stainless steel smelting workshop and supporting facilities, with an annual output of 2 million mt of qualified stainless semi-finished steel.