Monday, 31 Jan 2011
It is reported that Zhongyuan Special Steel intends to invest a sum of CNY 1.11 billion to update techniques used in the production of components used in heavy duty cleaning equipment.
The investment includes a construction expense of CNY 401 million, equipment procurement and installation expenses totaling 640 million and CNY 68 million in other expenses.
The project which started at the end of last year is scheduled to be completed within two years. Separate technique updates for smelting metal systems, forging system and supplementary equipment require a total cost of CNY 709 million and construction begins in June this year.(sourced:stcn.com)
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