Zhongwei Daily reported that Zhongning county, Ningxia province 400 million tonnes investment will be settled in the area, including 4.7 billion tonnes investment from Fujian Longfu Group which is going to build a 1 million tonnes per year of RE stainless color steel project.

In recent years, Zhongning county has carried out the investment promotion and gained good performances. In 2006, the financial revenues in the area has reached CNY 0.13 billion and CNY 0.15 billion in 2007, even 2008 volume is posted at CNY 0.34 billion doubling from the year before.

Only in 2008, Zhongning has brought in 16 projects, including 9 surpassing CNY 0.1 billion. They have successfully started the operations of 2,800 tonnes monocrystalline silicon and 72,000 tonnes manganese projects, which will effectively boost the growth of financial revenue in the local area.

On January 5th 2009, Fujian Fuqing Longfu Group has inked a CNY 4.7 million investment intent agreement with the local area to set up a 1 million tonne rare earth stainless color steel project, which goes with 0.3 million tonnes of ferrochrome and pig iron each, 0.25 million tonnes of rare earth.

(Sourced from MySteel.net)
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