Jiangxi Chongxin breaks ground on high-grade electrical steel project
2025-11-26 16:18:46 [Print]
On November 25, Jiangxi Chongxin New Materials Co., Ltd. started construction on its 330,000tpa cold-rolled high-grade electrical steel project in Chongren, Jiangxi.
The RMB2 billion (USD282 million) project, jointly invested by Fine-Chip Technology, Jiuce Group, Zhonghongyuan and other industry players, will produce grain-oriented and non-grain-oriented electrical steel, filling a gap in Jiangxi's high-magnetic-induction silicon steel production.
Built in two phases, the project is expected to generate about RMB2 billion (USD282 million) in annual operating revenue and RMB40 million (USD5.65 million) in taxes once fully operational. It will localize electrical steel supply, cut procurement costs for power transmission companies, and strengthen the overall competitiveness of Chongren's transmission-equipment industry.
The RMB2 billion (USD282 million) project, jointly invested by Fine-Chip Technology, Jiuce Group, Zhonghongyuan and other industry players, will produce grain-oriented and non-grain-oriented electrical steel, filling a gap in Jiangxi's high-magnetic-induction silicon steel production.
Built in two phases, the project is expected to generate about RMB2 billion (USD282 million) in annual operating revenue and RMB40 million (USD5.65 million) in taxes once fully operational. It will localize electrical steel supply, cut procurement costs for power transmission companies, and strengthen the overall competitiveness of Chongren's transmission-equipment industry.
