Taiwan WalsinLihwa Group continues to invest in Yantai stainless steel plant in Mainland China
2019-08-20 17:07:28 [Print]
Taiwan WalsinLihwa Group has invested in Yantai stainless steel industry in Shandong in mainland China and Indonesia because of the continuous expansion of the competitiveness of stainless steel production capacity. It has set up a consistent stainless steel manufacturing process. Recently, the board of directors has invested USD80 million with a total investment amount of TWD6.5 billion (USD0.21 billion). The estimated benefits will gradually emerge in 2021.
WalsinLihwa Group said that it used to outsource rolling steel for its mainland business. Yantai plant is building a consistent process. The heating process is expected to be completed by the end of next year. The benefits will begin to show in 2021. Stainless steel plant will be WalsinLihwa Group's main capital expenditure in the next 1-2 years. WalsinLihwa Group increased its cash investment by USD100 million last year and invested TWD1 billion (USD0.32 billion) in May this year to purchase equipment. The board of directors recently approved another USD80 million.
According to public information, WalsinLihwa Group Stainless Steel Project, with a total investment of TWD 6.5 billion, is located in Dajijia Street, Yantai Development Zone, covering an area of 968 mu. It mainly constructs an intelligent deep processing project for new stainless steel materials, and builds the most advanced stainless steel rolling production line with the planning concept of intellectualization and industrial Internet of Things.
WalsinLihwa Group said that it used to outsource rolling steel for its mainland business. Yantai plant is building a consistent process. The heating process is expected to be completed by the end of next year. The benefits will begin to show in 2021. Stainless steel plant will be WalsinLihwa Group's main capital expenditure in the next 1-2 years. WalsinLihwa Group increased its cash investment by USD100 million last year and invested TWD1 billion (USD0.32 billion) in May this year to purchase equipment. The board of directors recently approved another USD80 million.
According to public information, WalsinLihwa Group Stainless Steel Project, with a total investment of TWD 6.5 billion, is located in Dajijia Street, Yantai Development Zone, covering an area of 968 mu. It mainly constructs an intelligent deep processing project for new stainless steel materials, and builds the most advanced stainless steel rolling production line with the planning concept of intellectualization and industrial Internet of Things.
