Several China-based companies are increasing capacities and investing heavily in the development of local stainless steel companies. Also, consumption of stainless steel is high as a result of which mills are adding to annual output by constructing new rolling units while also curbing the negative impacts on the environment.
Qingshan and Guangxin plan to invest 4mn mt of stainless steel production in Yangjiang to promote the development of local stainless steel industry. The two parties agreed to increase the output of the mill to 4mn mt of stainless steel by adding a new 2250 rolling mill. The newly added 4mn mt of stainless steel production in Yangjiang is carried out to support Qingshan’s 3mn mt of ferronickel project in Indonesia.
Yangjiang Zhengda Industry plans to build a stainless steel belt rolling project with an annual capacity of 100,000mt in Yangchun City. The total investment of the rolling project is CNY380mn ($55.67mn) of which CNY500,000 is for environmental protection.
The main construction would include one rolling production line, raw material warehouse, maintenance workshop, raw material warehouse, finished product warehouse etc. The project will employ around 300 people and run for 300 days in a year.
Qujing City’s September 2020 key project concentrated commencement ceremony was held in Shizong County. A total of 21 key projects were started this month, with a total investment of CNY10.3bn. Around CNY2.06bn is planned to be invested in 2020. Among them, construction of the second-phase new project of 1.57mn mt stainless steel industry in Shizong, Yunnan has begun.