Liangang Electromagnetic Materials to build phase two of cold-rolled silicon steel project
2023-07-10 11:24:45 [Print]
Hunan Liangang Electromagnetic Materials Co., Ltd., a subsidiary of Hunan Valin Steel, plans to invest about RMB5.98 billion (USD827 million) to develop the phase two of cold-rolled silicon steel project.
The first part of the phase two project is scheduled to break ground in July 2023 with a constriction period of 18 months and would have an annual production capacity of 80,000t of oriented silicon steel. The second part is planned to begin constriction in September 2024 for a period of 15 months and would produce 220,000t of oriented silicon steel and 400,000t of non-oriented silicon steel annually. The investment for the first and second part is estimated at RMB2.07 billion (USD286 million) and RMB3.91 billion (USD541 million) respectively.
The project aims to produce higher quality oriented silicon steel finished products through a complete production flow of high grade, high magnetic strength and extra-thin silicon steel and help the company to establish one of the top cold-rolled silicon steel production bases with full production flow in China.
The first part of the phase two project is scheduled to break ground in July 2023 with a constriction period of 18 months and would have an annual production capacity of 80,000t of oriented silicon steel. The second part is planned to begin constriction in September 2024 for a period of 15 months and would produce 220,000t of oriented silicon steel and 400,000t of non-oriented silicon steel annually. The investment for the first and second part is estimated at RMB2.07 billion (USD286 million) and RMB3.91 billion (USD541 million) respectively.
The project aims to produce higher quality oriented silicon steel finished products through a complete production flow of high grade, high magnetic strength and extra-thin silicon steel and help the company to establish one of the top cold-rolled silicon steel production bases with full production flow in China.
