It is reported that Baosteel Anhui Steel Distribution Co Ltd officially signed its phase 2 expansion project with Luyang District Hefei in the second China International Exposition for Household Electrical Appliance.

 

As per report, with the total investment of CNY 0.167 billion and building area of 19,000 cubic meters, the phase 2 projects will add 0.2 million tonnes per year capacity to the designed processing capacity and contribute annual production value of CNY 0.4 billion after construction.

 

Located in Luyang Industrial Park and covered about 110 mus, Baosteel Anhui is one of key companies to arrange core components for Hefei household appliance. Costing CNY 0.135 billion, its phase 1 project has built 3 modernized steel cut processing automatic production lines on its over 13,000 cubic meter floorage. In 2007, the project has realized gross industrial output value of some CNY 0.425 billion and sales revenue of some CNY 0.688 billion.

 

Baosteel Anhui project has listed as one of Anhui Province's "861 Plan of Action" which mainly aims to help the province realize industrialization. Its project is a 70 to 30 JV between Shanghai Baosteel International Economic & Trading Co Ltd and Anhui Huishang Group Co Ltd. The two companies are seen as the hardcore powers in forming the largest steel products logistic center and processing center of Luyang Industry Park in Anhui province.

 

(Source: www.anhuinews.com)

 

 

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