Shandong Iron and Steel Group Yongfeng Lingang launches high-quality and special steel project
2020-03-17 15:15:22 [Print]
On March 14, 20 projects in Junan County and Lingang District of Linyi, including the project of Shandong Iron and Steel Group Yongfeng Lingang Co., Ltd. with an annual output of 6 million tons of high-quality and special steel, were started.
The project is jointly invested and constructed by Shandong Iron & Steel Group Co., Ltd. and Yongfeng Group, with a total investment of about 26 billion yuan (3.717 billion US dollars) and an area of 6,947mu. The project is planned to build an annual output of 6 million tons of high-quality and special steel and supporting coking project, and the products are mainly the high-quality and special steel products and deep-processed metal products. The investment in the first phase of the project is 13.66 billion yuan (1.953 billion US dollars), and the investment in 2020 is planned to be 8 billion yuan (1.144 billion US dollars). The project will be constructed starting in March and completed and put into operation by the end of December 2021, when 55 billion yuan (7.863 billion US dollars) of output value and 3.5 billion yuan (500.38 million US dollars) of tax revenue will be realized annually.
The project is jointly invested and constructed by Shandong Iron & Steel Group Co., Ltd. and Yongfeng Group, with a total investment of about 26 billion yuan (3.717 billion US dollars) and an area of 6,947mu. The project is planned to build an annual output of 6 million tons of high-quality and special steel and supporting coking project, and the products are mainly the high-quality and special steel products and deep-processed metal products. The investment in the first phase of the project is 13.66 billion yuan (1.953 billion US dollars), and the investment in 2020 is planned to be 8 billion yuan (1.144 billion US dollars). The project will be constructed starting in March and completed and put into operation by the end of December 2021, when 55 billion yuan (7.863 billion US dollars) of output value and 3.5 billion yuan (500.38 million US dollars) of tax revenue will be realized annually.
