1Mtpa electrical steel project breaks ground in Inner Mongolia
2023-09-08 11:55:46 [Print]
Inner Mongolia Mengliheng New Material Technology Co., Ltd. broke ground on its 1Mtpa electrical steel project at Dalat Economic Development Zone on September 6. With a total investment RMB3 billion (USD408 million), the project will be developed in two phases, including the phase one with capacity of 500,000tpa of high performance of electrical steel, which is scheduled to commence production in May 2024.
When fully operational, the project is able to produce 400,000tpa of high magnetic strength oriented silicon steel and 600,000tpa of high grade non-oriented silicon steel, and would achieve annual production value of RMB12-18 billion (USD1.63-2.45 billion), along with tax revenue of RMB1 billion (USD136 million) and more than 1,000 new jobs. The project is expected to ensure supply of silicon steel to electric power companies, NEVs makers and other downstream enterprises in Inner Mongolia and surrounding regions.
When fully operational, the project is able to produce 400,000tpa of high magnetic strength oriented silicon steel and 600,000tpa of high grade non-oriented silicon steel, and would achieve annual production value of RMB12-18 billion (USD1.63-2.45 billion), along with tax revenue of RMB1 billion (USD136 million) and more than 1,000 new jobs. The project is expected to ensure supply of silicon steel to electric power companies, NEVs makers and other downstream enterprises in Inner Mongolia and surrounding regions.
