It is reported that Maanshan Iron and Steel Limited a controlled subsidiary of Maanshan Iron and Steel plans to build a new cold-reduced sheet production facility for approximately CNY 5 billion in Hefei Recyclable Economic Industrial Park.

Upon completion, the factory could produce 1.2 million tons of cold-reduced sheets, used for high-end vehicle and home appliances, every year. The project is scheduled to be completed in two years.

Maanshan Iron and Steel Limited found in 2006 have production lines of coking, sinter, steel making and steel rolling and an annual capacity of two million tons of steel. In 2010, the company generated more than CNY 5 billion in sales revenue. Sales are expected to hit CNY 6.5 billion in 2011.

(Sourced from 163.com)