Hai Kwang Enterprise, one of the major carbon steel long products producers in Southern Taiwan, said that the company has planned to purchase one set of steel smelting production system around middle 2012.

This new smelting system will help the company to double its annual output to 1.2 million tons.

Also, this new system will also help Hai Kwang to produce some billets for steel bars production need.

The investment value of this new system will be NT$4.5 billion, Hai Kwang will pay for NT$1.8 billion by itself and other NT$2.7 billion will be applied by the financial load from Taiwan's banks.

Hai Kwang expected this new system can start the official operation in 2014.