It is reported that Shandong Xiwang Group Co Ltd has started operating commencement of 0.4 million tonnes per year of raw materials and 1.5 million tonnes per year of special steel, with the total investment of CNY 4 billion. The project is predicted to increase sales incomes by CNY 22 billion and CNY 2.56 billion of profit tax.

As per report, the 1.5 million tonnes per year of special steel production line is the most advanced electric furnace special steel and alloy steel wire rods production line in home market.

the 80 tonne EAF has filled the blanks in Shandong province and is expected to form 1.5 million tonnes per year of EAF based special steel and 1.3 million tonnes per year of HBR400 HR ribbed steel bars by the end of this year after it completes.

(Source: http://binzhou.dzwww.com)