Sichuan Daily reported Pangang has put its Xichang vanadium & titanium resources comprehensive utilization project into operation in October after completed the relocation and prophase work lately. The Sichuan-based steel group is expected to pour CNY 17.141 billion in it.
As per report, the first stage project will realize annual capacity of 4.2 million tonnes of pig iron, 3.6 million tonnes of crude steel and 3.5 million tonnes of hot rolled sheet and will provide over 15,000 working positions for local people when the project launches full-scale operation.
The new base would double Angang Group's current annual sales revenue to CNY 60 billion after it completes
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