Shandong Province-based Chinese steelmaker Qingdao Iron and Steel Group Co. has announced that its subsidiary Qingdao Special Steel lately held a signing ceremony regarding new investments with China Sinogy Electric Engineering Co., Hebei Province-based Tong Ming Huan Bao Co. and Shandong-based Guoshun Construction Group.
Accordingly, Qingdao Special Steel will implement three projects with a total investment of RMB 2.44 billion ($399 million). In particular, the biggest investment, for a comprehensive thermoelectric energy project, will total RMB 2.1 billion ($343 million). The other two projects, for a dedusting system and for flue gas desulfurization for a 2,240 m2 sintering machine project, will involve investments of RMB 250 million ($40.85 million) and RMB 90 million ($14.7 million) respectively.
