Date: 2013-07-31

Xuanli Special Steel to Complete Phase I of New Project by June

Jiangsu Province based Chinese steelmaker Xuanli Special Steel Company has announced that Phase I of its new special steel project costing CNY 1.2 billion is around 80% complete with trial production expected to be carried out in June this year. Annual sales revenue from phase one is expected to reach CNY 4 billion.

The overall project with a total investment of CNY 3.8 billion will have an annual output capacity of 2 million tonnes. The project has three phases with phase one and phase two together due to produce 1 million tonnes of semi finished special steel per year while Phase III will have an annual output of 1 million tonnes of special steel plate and bar. Following commissioning, total annual sales revenue from the project is expected to reach CNY 10 billion.

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