Yuan 67.5 billion investment for LiaoNing steel industry

Yuan 67.5 billion investment for LiaoNing steel industry

According to recent market reports, LiaoNing province government is planning to invest Yuan 67.5 billion (approx. $7.85 billion) to obtain technological progress regarding LiaoNing steel industry. This technological progress is going to include forty steel companies. The most significant projects will be materialized in AnSteel, ST Sheet, DaLian JinNiu, FuShun Special Steel and LingSteel. After this technological progress, government expects private companies to invest in steel industry. The project will be financed by bank loan and foreign capital. The steel production is expected to reach 37.5 million tons until 2007. The production of pig iron and steel products will amount to 37 million tons and 38 million tons respectively.