Mingmei Technology inks deals for wrought magnesium alloy project in Chaohu

On July 26, Henan Mingmei Magnesium Technology Co., Ltd. reached a deal to build a wrought magnesium alloy project with production capacity of 50,000 tonnes per annum in Chaohu, Anhui.

With total investment estimated at RMB2.5 billion (USD346 million), the project will cover an area of nearly 500Mu (34 hectares) and include three phases. The first phase will mainly build production lines for alloy casting, semi-solid casting, surface treatment and further processing, the second phase will build production lines for extruding, rolling and heat treating as well as R&D center, office building and dormitories, and the third phase will mainly include a biodegradable magnesium alloy plant.

When fully operational, the project is capable of producing 50,000 tonnes of wrought magnesium alloy annually with sales revenue reaching more than RMB2 billion (USD277 million).