Dongfeng Shipbuilding Co. has begun construction on a new stainless steel sheet production line in the city of Wulanchabu in Inner Mongolia, China. The USD 1.19 billion project has a designed annual capacity of 1 million mt. The project consists of building two submerged arc furnaces and other basic equipment. Construction is scheduled for completion by the end of 2011. Once complete and in production, the line is expected to bring in USD 2.9 billion in sales revenue per year, with an annual pre-tax profit of USD 459 million.
