Anhui Jin’an Stainless Steel Casting Co Ltd will invest CNY 0.77 billion into its Jin’an Steel Tube Project which was signed to settle in Hefei Recycling Economical Park in China on 2 December. In September, the company acquired Hefei Steel Group Steel Tube Co Ltd and changed its name into Heifei Jin’an Steel Tube Co Ltd. The new company will be built in two phases. With an investment of CNY 0.36 billion the 1st Phase known as 500,000tpy specialized steel tube project is likely to start construction in near future. The 2nd Phase invested with CNY 0.41 billion will break ground next year.