North China’s Jinxi Steel to move to South China
Sep 05, 2019 15:30
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Hebei Jinxi Iron & Steel Group (Jinxi), China’s leading section steel producer headquartered in Beijing, is planning to relocate its steelworks in Tangshan, in North China’s Hebei province, to Fangchenggang city in South China’s Guangxi Zhuang Autonomous Region, according to a recent announcement from Jinxi’s controlling shareholder, China Oriental Group Co (Oriental) on September 3.
On Tuesday, Jinxi entered into an investment agreement with the Fangchenggang city government, pledging to invest a total of Yuan 30 billion ($4.2 billion) to build a greenfield steel plant with 10 million tonnes/year of iron and steel capacity there, according to the Oriental announcement released the same day.