On November 1, Guangdong Province-based Chinese company Weilian Changcheng Metal Co. (formerly known as Lanshi Nonferrous Metal Calendering Factory) held a groundbreaking ceremony at Cui Lake, Kaiping, Guangdong for the construction of a new stainless steel plant.
Weilian Changcheng Metal plans to invest RMB 600 million ($94.94 million) to construct a plant covering an area of 100,000 m2 which will produce stainless steel tubes and plates. Upon completion, the annual production value of the plant is expected to be RMB 1.5 billion ($237.34 million).