Zhujiang Steel Pipe to hike capacity to 2.41 million mt by end of 2012

Guangdong Province-based Chinese steel pipe manufacturer Zhujiang Steel Pipe has launched construction of the second phase of its new steel pipe project, as reported by local Chinese media.
 
The project is scheduled to be implemented in three phases. In the first phase, Zhujiang Steel Pipe invested RMB 700 million ($111.11 million) to build a longitudinal submerged arc welding pipe production line with a planned annual output capacity of 300,000 mt. In the second phase, Zhujiang Steel Pipe is going to add two longitudinal submerged arc welding pipe production lines and a spiral welded pipe production line before the end of 2012, increasing its overall annual production capacity from 1.45 million mt to 2.41 million mt. In the third phase, the company plans to construct a spiral welded pipe production line with a designed production capacity of 300,000 mt. In addition, it will also build a quayside warehouse. Zhujiang Steel Pipe will invest RMB 5 billion ($793.65 million) in the overall project, which is expected to contribute an annual output value of over RMB 10 billion ($1.59 billion).