Hubei Province-based Chinese steelmaker Lijin Iron and Steel Co has started construction work on its high-speed steel bar production project which is expected to cost CNY 800 million.

In 2011, Lijin Steel achieved an output value of CNY 3.5 billion. In the given year, the steelmaker built two 90 tonnes electric arc furnaces. In 2012, the annual steel output capacity of the company is expected to reach 2 million tonnes. Lijin Steel currently has two production lines with respective annual capacities of 500,000 tonnes of steel bar and 700,000 tonnes of steel beam.

(Sourced from SteelOrbis)
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