It is reported that Fujian Kaixi Iron & Steel Co Ltd plans to pour CNY 2.8 billion to build a 3 million tonnes per year prime steel plate production base in Jiangyi Industrial Park, Jiangsu, with annual capacity of 3 million tonnes per year of crude steel and HR sheet each.

As per report, the project would realize production value of CNY 12 billion and turn in taxes of CNY 0.5 billion per year after it completes.

The investment agreement has been signed lately, and Jiangyin Industrial Park is actively preparing prophase work.

(Sourced from MySteel.net)