Chinese iron and steel company, Tangshan Steel Jinma announced the intention to establish a new production base.
The volume of investments into the project is estimated at 12.5 billion yuan ($1.8 billion).
The company, whose main power is now in the city of Tangshan, where the construction of new metallurgical plants very difficult, it intends to start its project in 2020, the Commissioning of new capacities is planned for 2023.
The project includes the construction of a steel plant of 3 million tonnes of steel per year and replacement of the main equipment for coke plant Chifeng Defeng Coke, which currently can produce up to 1.8 million tons of coke per year.
Another Chinese company Steel Holding Lu’an of Anhui province, announced the commissioning of the wire mill, which will produce wire rods and rebars in coils.
So far, the company will acquire products, but in the long term it is going to build two blast furnaces and 1780 cubic meters capacity of about 1.5 million tons of pig iron per year and two in the BOF shop. In the more distant future Lu’an Steel is going to become an integrated steel producer with total capacity of 10 million tons per year.