It was reported that Tsingtuo Group invested RMB 6 billion in Wanwu Town to build high-performance stainless steel wide plates and supporting projects.

According to previous public information, Tsingtuo Group planned to build a new stainless steel material industrial cluster project, which includes RMB 12 billion investment, 2,250 acres of land, and an annual capacity of 2 million tons of high-performance stainless steel wide plates, including stainless steel new material smelting, 3200mm width hot rolling production line, and supporting facilities.

In early November, there was a progress of 2 million stainless steel capacity replacement. Tsingtuo Group has got government approval for capacity replacement and obtained 900,000 tons of steelmaking capacity.