It’s reported that the Chinese steelmaker Jutai Steel and Xufeng Steel have inked an agreement to invest RMB2.9 billion to establish Hubei Wangtai New Material Technology Industrial Park in Yuekou, Tianmen in China's Hubei Province. The president of Jutai Steel, Wang Minghua said that the project will include a stainless steel high-speed wire rod project with an annual production capacity of 300,000 tons and a nickel alloy processing project with an annual capacity of 240,000 tons. Meanwhile, it’s expected that the new stainless steel industry park will create an annual output value of RMB30 billion.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67145&division=A1
