Last Updated :
02 November 2009 at 15:05 IST
Valin Steel to start seamless steel production
BEIJING (Commodity Online) : One of China’s top ranked steel makers, Valin Steel on Monday said its subsidiary, Hengyang Valin MPM Co plans to invest $246.1 million in a seamless steel pipe project, with construction period of two years.
In a statement issued here the company said the project is scheduled to produce 400,000 tons of steel pipes the year that it becomes operational and 500,000 tons the following year.
Valin Steel said that over the past several years the market's demand for seamless steel pipes has expanded persistently, while the demand for custom pipes such as oil pipes, high-pressure boiler tubes, lead-out pipes, and alloy pipes has grown more than 25 per cent annually.
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