According to Reuters report, China's Baowu Steel Group has commenced production at the first phase of an aluminium alloy project in Henan. The project, which started construction in February 2019, has an annual capacity of 300,000 tonnes.
The company has made an investment of around seven billion yuan ($1.07 billion) in the first phase. The project is planned to manufacture 80,000 tonnes of aluminium alloy auto sheets, 50,000 tonnes of aluminium alloy medium plates and 170,000 tonnes of aluminium alloy plate and strip per year.
The aluminium alloy project is operated by Baowu's unit Baowu Aluminum Technology. The designed production capacity at Baowu Aluminum is seen at 600,000 tonnes per annum.
This project is considered as a "landmark" of Baowu Steel Group’s extension to new materials industry.
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