Guangxi Iron and Steel Group’s Fangchenggang Steel plant’s first phase has commenced production. The annual production capacity of the plant is 9.2mn mt, according to the China Metal Society.
The plant in China is a joint venture of Guangxi Iron and Steel and Liuzhou Iron and Steel company. The first phase includes a 3,800 cu m blast furnace.
Around CNY45bn ($6.35bn) has been invested in the plant which will mainly produce cold-rolled plates, hot-dip galvanized coils, hot -rolled broadband steel, high strength rebar, alloy steel bar and high-quality wires.
The plant will try to fulfill the needs of Guangdong, Guangxi, Hainan, Southwest, and Southeast Asia markets.
Guangxi Group’s annual production capacity is 14mn mt of iron, 14.8mn mt of steel, and 22.5mn mt of crude steel.
($1=CNY 7.07)