It is reported that Jiugang Iron and Steel Group Western heavy Industry has inked a cooperation contract of large caliber LSAW and rectangular steel pipe production with Tianshui Metalforming Machine Tool Co Ltd.

The project, with the total investment of CNY 0.69 billion which may form 0.15 million tonnes per year oil & gas pipelines and 0.1 million tonnes per year rectangular pipe output capacities after it completes, realizing annual incomes of CNY 2.3 billion and profit tax of CNY 0.56 billion.

Besides, this move can also change the pattern of importing large caliber cold form rectangular pipes from overseas market during the past periods, easing the tight construction demand in Western China and middle Asian regions and areas.

(Sourced from www.tstv.cn)