According to reports, Taiwan's largest stainless steel producer Yieh United Steel Corp (Yusco) plans to invest a total of $211.7 million for the implementation of two major projects including the construction of a ferronickel plant (temporarily named Fujian Liande Co.) in China's Fujian Province and the expansion of stainless cold rolled (CR) capacity at its affiliate Lianzhong Stainless Steel Corporation (Lianzhong).
Accordingly, Yusco's board has approved an injection of $95 million for the construction of the Liande ferronickel plant which will have a capacity of 300,000 mt in its first phase. The new plant is expected to ensure stable and low cost nickel raw material for Lianzhong's stainless steel production.
Furthermore, Yusco plans to invest $116.7 million to expand Lianzhong's stainless CR capacity by 500,000 mt to 1.2 million mt, aiming to enhance competitiveness and its share in China's domestic stainless steel market.
The projects are expected to be completed within two to three years after government approval has been obtained.