Hunan Liangang cold-rolled silicon steel project begins phase one production
2023-08-21 11:46:20 [Print]
On August 18, Liangang cold-rolled silicon steel project located at Loudi economic development zone in Hunan started formal production of the first phase. With a total investment of RMB9 billion (USD1.24 billion), the project consists of two phases and mainly produces high-grade non-oriented silicon steel, non-oriented silicon steel for NEV drive, and high magnetic strength oriented silicon steel. The project has a total annual production capacity of 1.2 million tonnes per annum, including 800,000tpa of high-grade non-oriented silicon steel and 400,000tpa of oriented silicon steel. The phase one will be able to produce 200,000tpa of non-oriented silicon steel and 90,000tpa of oriented silicon steel semi-finished product.
Construction of the project is scheduled to be completed in May 2025. When reaching full capacity, the project would add annual production value of over RMB17 billion (USD2.33 billion) and tax revenue of at least RMB700 million (USD96.13 million), creating more than 1,500 local jobs.
Construction of the project is scheduled to be completed in May 2025. When reaching full capacity, the project would add annual production value of over RMB17 billion (USD2.33 billion) and tax revenue of at least RMB700 million (USD96.13 million), creating more than 1,500 local jobs.
