voestalpine AG plans to build 15 new plants with an investment of EUR 450 million in China by 2020, which include a special profile plant in neighbouring Shanghai, an automotive steel plant in Qinhuangdao and the second rail steel plant hand in hand with China Railway Shanhaiguan Bridge Group.
Voestalpine chairman WolfgangEder shows that the company will raise sales in Asia from current EUR 70 million to EUR 2 billion by 2020. However, the company's investment in China does not form competition with Austrian steelmakers.
Source:
http://www.sinocast.com/readbeatarticle.do?id=101109
