Shanxi Province-based Chinese steelmaker Zhashui Tongxing Rolled Steel Co. has announced that it has started construction work on its new steel plate and steel bar production facilities, which will have respective annual output capacities of 400,000 mt and 300,000 mt.
Located in Liangzhen in the county of Zhashui in Shanxi, the steel plate project will cost a total investment of RMB 388.73 million ($61.65 million) and is due to be commissioned at the end of September this year. Its annual output value is expected to reach RMB 1.66 billion ($263.29 million).