Gansu Province-based Chinese steelmaker Yuzhong Iron and Steel Co., a subsidiary of Jiuquan Iron and Steel Group, has announced that its steel project in Yushu, Gansu, a part of a reconstruction project following the earthquake which hit Yushu in April 2010, started trial production on October 26.
The overall steel project will have an annual production capacity of 2.25 million mt of pig iron, 2.29 million mt of crude steel and 2.4 million mt of finished steel. The annual sales revenue and pre-tax profit of the overall completed project are expected to reach RMB 15 billion ($2.37 billion) and RMB 900 million ($142 million) respectively, as stated by Yuzhong Steel.