Chinese steelmaker Guangdong Yongjin Metal Technology Co., Ltd started construction of its 680,000 mt capacity precision stainless steel deep processing project on June 22 at Yangjiang, in Guangdong Province, according to local authorities in Yangjiang. Total investment in the project will amount to RMB 1.81 billion ($0.27 billion), while it will have an estimated annual output value of RMB 10.2 billion ($1.55 billion). This is the first cold rolled stainless steel project in Yangjiang.
In particular, the first phase of the project will have a total investment of RMB 1.0 billion ($0.15 billion), with an annual capacity of precision stainless steel sheet and strip amounting to 300,000 mt, while it will be put into operation in July 2019.