On the afternoon of 14 September, Yicheng Iron and Steel signed the assets handover agreements with Jinnan Steel and Shanxi Minguang New Energy, both of which will construct projects in Yicheng Iron and Steel New Materials Park.

With a total investment of approximately RMB10 billion (USD1.55 billion) and a land area of 3,600mu, Jinnan Steel Yicheng high-quality base project with an annual production capacity of 2.8 million tons of iron and 3.9 million tons of steel is one of 2021 provincial key projects of Shanxi. The 1.56-million-ton-per-annum coking upgrading and 40,000-ton high-performance carbon anode materials project of Shanxi Minguang New Energy Technology Co., Ltd. with a total investment of RMB5 billion (USD0.77 billion) and a land area of around 1,800mu is the supporting coking project of Jinnan Steel Yicheng high-quality base project.