Guangdong Nanfang Donghai Iron and Steel company commenced the construction of a special steel plant last month. The company has invested CNY12bn for this project in Yunfu city, Guangdong, according to china metallurgical news.
The project located at Guangdong Metals Intelligent Technology Industrial Park, is estimated to have an annual output of 7.6mn mt of fine steel. The construction will activity will be done in two phases.
In the first phase, three 150mt imported electric furnaces and the supporting LF and RH refining furnaces will be constructed and will have a production capacity of 4mn mt. The infrastructure in the second phase, will produce upto 3.6mn mt of high-quality steel.
After completion of the project, the value of the facility’s annual output will be CNY30bn with a revenue of CNY2bn. At present, the Donghai Iron and Steel Project’s annual output of fine steel is 4mn mt.