Metallurgical company Taiyuan Iron & Steel (Group) Co., Ltd (China) agreed with the Commission for Development and Reform Shanxi issue of construction in the region of a new plant for the production of stainless steel.

The feasibility study of the project means that the new plant will produce cold-roll sheet products of corrosion-resistant ferritic compositions with thicknesses ranging from 0.4 to 3.0 mm and a width of 1 to 1.65 meters. The planned new plant production capacity will be 900 000 tons of stainless steel per year, which will allow Chinese steelmakers to increase their annual turnover of more than $ 535 million.

Representatives of TISCO previously reported that the new facilities will be constructed on the territory of the sites already owned by Taiyuan Iron & Steel Co, however, for the implementation of the project will need an investment in excess of $ 1 billion.

TISCO Existing capacities allow Chinese companies annually supply the world market of about 10 million tons of metal, of which 3 million tonnes -… Products of stainless steel. Consequently, after commissioning a new plant in Shanxi, which is scheduled for September 2013, the production volumes of the Chinese manufacturer of stainless steel will increase by almost a third.