HBIS Laoting rents hot rolling line to speed up project

HBIS Laoting Steel Co., Ltd. plans to rent a hot-rolling production line and associated facilities from Tangshan Stainless Steel Co., Ltd. for an annual rental of RMB80.26 million (USD1,126 million), as the company seeks to ease the financial strain and shorten the construction period of its steel base project.

The leased property includes a 1580mm hot-rolling production line which is currently idled by Tangshan Stainless Steel, with an annual production capacity of 3 million tonnes of steel products used for high-end automotive sheet, including high-strength steel, ultra-low carbon deep drawing steel, tin mill black plate (TMBP), and it is able to produce rolled product with minimum thickness of 1mm.