Tianjin Daily reported that as one of the major industrial projects in Tianjin, Xinyu 0.8 million tonnes per year color coated coils project has recently started its second stage operation with the total investment of CNY 0.6 billion which may construct 6 large-sized production line and 7 plants.
In 2009, the company planned to pour CNY 1.2 billion in total setting up 0.8 million tonnes per year fine quality flats steel project, which was divided into three stages for construction, taking an area of 300 mus.
As per report the second stage project may realize profit tax of CNY 0.2 billion after it completes and the third stage project is likely to start construction in 2011 which may become a 3 million tonnes per year large-size flats steel production base.
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