The Luoyuan County in Fuzhou city of Fujian province in China, and Taiyuan Iron and Steel Co (Tisco), will collaborate for a high-end special steel new material base project with an investment of CNY10bn, according to Guangdong Stainless Steel Materials and Products Association.
Tisco is a subsidiary of China’s largest steelmaker Baowu, which also owns Baosteel Desheng.
The facility will manufacture 3mn mt of stainless steel quality base, develop 300 series, 400 series, and duplex and other relevant high-end stainless steel outputs. It aims to speed up the steelmaking process, and continuous casting.
The initial project of Baosteel Desheng Fine Stainless Steel green industry base in Luoyuan County, a 1780mm hot rolling production line, started operations last year end. The cold and hot rolling production lines will focus on increasing market competitiveness.
Baosteel Desheng’s 5G smart control center project is under construction, involving an investment of CNY260mn. The complete process of remote control and digital-mold rolling control of exit and entry will get registered post-production.
($1 = CNY6.46)