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Wisco to invest in Guangxi steel production

30 May 2012
Wuhan Iron and Steel Corp (Wisco) is to invest in a Rmb60bn steel production centre in Fangchenggang, Guangxi autonomous region, according to the regional Communist Party Secretary Ma Biao. Construction started on 28 May and will take three to four years to complete. The centre will have an annual capacity of 8.5m tons of steel, 9.2m tons iron and 8.6m tons of steel products, with room for further expansion.

The project, part of a national industry reform plan, was approved by the National Development and Reform Commission as a landmark project for the country’s Go West campaign, Ma said. Wisco will have an 80 per cent stake in the new Guangxi Iron and Steel Group, with the regional state asset management commission holding the remaining 20 per cent.

     
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