On 28 August Chengwei Stainless Steel Inc. signed an agreement with Wuxi Industrial Park in Luxi County, Hunan Province regarding the construction of a new 350,000tn annual capacity stainless steel mill. The mill, to be built with an estimated investment of CNY 500 million, is to cover an area of 210,000sq/m in the industrial park in question. The project is expected to speed up the development of the local stainless steel industry in Hunan Province.
