Baosteel Metal commences construction of Chaohu light weight project
2020-12-03 17:58:37 [Print]
On the morning of December 2, a groundbreaking ceremony was held in Juchao Economic Development Zone for Baosteel Metal's Chaohu light weight project.
With a planned land area of 1,000 Mu (66.67 hectares) and total investment of around RMB3 billion (USD0.46 billion), the project will focus upon businesses including light-weight auto parts, rolled precision section products and Mg-Al alloy products. Its phase one part will have a planned investment of RMB350 million (USD53.34 million). When the project is constructed and goes into operation, it is expected to have an annual sales revenue of RMB4 billion (USD0.61 billion) and contribute an annual taxation of over RMB400 million (USD60.96 million). The project's main buildings and workshops are scheduled to be roofed successively by the end of March 2021, production equipment to be installed in April, and first batch of production lines to go into operation in August 2021.
With a planned land area of 1,000 Mu (66.67 hectares) and total investment of around RMB3 billion (USD0.46 billion), the project will focus upon businesses including light-weight auto parts, rolled precision section products and Mg-Al alloy products. Its phase one part will have a planned investment of RMB350 million (USD53.34 million). When the project is constructed and goes into operation, it is expected to have an annual sales revenue of RMB4 billion (USD0.61 billion) and contribute an annual taxation of over RMB400 million (USD60.96 million). The project's main buildings and workshops are scheduled to be roofed successively by the end of March 2021, production equipment to be installed in April, and first batch of production lines to go into operation in August 2021.
Magnesium Alloy AZ91D FOB China
Unit:USD/mt
China magnesium alloy producers' suspension number statistics by month
Unit: pcs
