On November 19, Jiangsu Shagang Group Co., Ltd. signed the contract for its steel integration and restructuring project in Shuiye, Yindu, Anyang with the investment for RMB14.8 billion (USD2.25 billion).

The project is implemented by Anyang Yongxing Iron and Steel Co., Ltd., a wholly-owned subsidiary of Jiangsu Shagang Group Co., Ltd. After the project is completed, the ironmaking capacity will reach 4.94 million tons and the steelmaking capacity will reach 5.5 million tons. It will become an influential and competitive high-end building material production base.