December 02, 2008

Xigang to move new special steel project to Jingjiang

It is reported that Xigang Group will settle in Jingjiang Economic Development Zone, the north of the Yangtze River and will set up a 2 million tonne of special steel enterprise.

According to the company’s plan, it will move out Wuxi city in three years and will carry out transform on irrational technical equipment, to eliminate the backward 20 tonne converter, relocate a 50 tonne electric furnace production line.

The relocation region will locate Jingjiang Economic Development Zone, covers an area of 1451.3 hectares, the planning investment of the project is CNY 4.5 billion and will mainly produce bearing steel, spring steel, alloy steel etc, the annual production capacity can reach 950,000 tonnes after the completion of the second phase of the project, it can form 2 million tonnes production capacity.

Xigang Group is the important enterprise in Jiangsu province.