China’s Baowu -owned Taiyuan Iron and Steel is in the process of constructing a plant with an annual capacity of 3.22mn mt fine stainless steel at Luoyuan Bay, according to local media. The plant with an investment of CNY10mn ($1.54mn) will produce 200 series, 300 series, 400 series and high-end stainless steel products.
The plant is among 21 projects signed in Fuzhou city for promotion of steel industry chain in the Luoyuan Bay Port Area. These projects entail a total investment of CNY35.4bn.
Other major projects in the cluster consists of a 1.1mn mt capacity Fujian Baotai Cold Rolling project. It will produce hot-rolled stainless steel with a total output value of over CNY10bn. The Minguang fine steel base project by Fujian Sansteel with CNY10bn investment will build new dock berths, pipe corridors among other products.