It is reported that Masteel (Hefei) Iron & Steel Co Ltd, a subsidiary of Masteel, is planning to build a cold rolled sheet project in Hefei Circular Economy Demonstration Park during 12th Year Plan period.

As per report, the total investment amounts to nearly CNY 5 billion and the annual output is expected to reach 1.2 million tonnes.

Its product is targeted as top car sheet and appliance steel sheet, serving the markets around Hefei city.

An official from Hefei Circular Economy Demonstration Park administration released that this project is will be finished by the end of 2012 and put into production in 2013. He also pointed that through extending industry chain and processing for steel products; Masteel (Hefei) company is bound to have the producing ability of 400,000 tonnes of appliance steel and 800,000 tonnes of car steel sheet soon.

MaSteel (Hefei) Iron & Steel Co Ltd. was founded in 2006, which is engaged in the processing and sale of ferrous metals and its by products. With five years of development, the company owns 2 million of steel production capacity. In 2010, its revenue exceeded 5 billion yuan. Besides, both its product value and main revenue are expected to reach CNY 6.5 billion in 2011.

(Source: www.steelhome.cn/en)

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