It was reported that China’s Tengkai Metal has started its building project of stainless steel on March 12, 2020. The foundation of its stainless steel plant construction in Xiangshui was expected to be completed by the end of this month, and the equipment was scheduled to be installed at the end of October.

The total investment was around RMB 1 billion. After commissioning, the annual production capacity was estimated to be 300,000 tons of high-speed stainless steel wire rods and 700,000 tons of stainless steel rods.

The facility was predicted to be put into use in December this year.