China's National Development and Reform Commission (NDRC) has announced its approval of Shandong Province-based Chinese steelmaker Shandong Iron and Steel Group Co.'s new super quality steel project. Accordingly, the project in question located in Rizhao, Shandong has designed annual production capacities of pig iron, crude steel and finished steel amounting to 8.1 million mt, 8.5 million mt and 7.9 million mt respectively. The total investment will be RMB 56.74 billion ($9.12 billion), with construction expected to finish before 2017.
Source:
http://www.steelorbis.com/steel-news/latest-news/shandong-steel-receives-ndrc-approval-for-major-project-755068.htm
