Jinan Province based Chinese steel producer Jiyuan Iron and Steel Company is about to put its new high speed wire rod project into production.

Jiyuan Steel has already completed construction work on the project and is now carrying out debugging of equipment. The total investment in the project amounted to CNY 800 million.

In 2011, Jiyuan Steel produced 2.448 million tonnes of pig iron, 2.61 million tonnes of crude steel and 2.73 million tonnes of finished steel. In addition, the total sales revenue of Jiyuan Steel reached CNY 13.8 billion in 2011 while it recorded a pre tax profit of CNY 950 million for the year.

(Sourced from Steel Orbis)
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