China-based Fujian Fuxin Special Steel Co. has announced plans to set up a stainless steel mill with an annual capacity of 720,000tns of finished hot rolled coil before 2009. Fujian Fuxin Special Steel will spend around USD 499 million on this project which is inclusive of a stainless steel melt shop, hot rolled mill and an annealing & pickling line. Fuian Fuxin is located in Zhangzhou in SE Fujian province and is jointly owned by Fujian Sangang Group Co. Ltd and Taiwan Samoya Investment Co. with 50% each.
