It is reported that Zhongyou Company laid a foundation for its special steel project in Xinyi Economic Development Zone, Jiangsu on October 20th.

As per report, the company plans to pour CNY 3.6 billion in the project which was designed to build up 3 million tonnes per year special steel line and 1.8 million tonnes per year tamping coke line. As expected, the project will realize CNY 13 billion of sales revenue per annum including CNY 0.6 billion of pre-tax profit and create over 3,000 jobs.

(Sourced from MySteel.net)
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