Shanghai-based Chinese steel giant Baosteel has announced that its subsidiary Baosteel Engineering and Technology Group Co. has inked a contract for the supply of a 1.7 million mt capacity cold rolled sheet (CRS) processing line to state-controlled domestic steel producer Tianjin Metallurgical No. 1 Steel Group.
In 2008, Tianjin Metallurgical No. 1 Steel Group started construction of its CRS production project, estimated at a cost of RMB 5 billion ($784 million), in Dagang Economic Development Zone. Phase one of the project has a designed annual output capacity of 1 million mt, costing RMB 1.5 billion ($235 million), while phase two has a designed annual capacity of 2.1 million mt.
