Fujian Province has signed a contract with Taiyuan Iron & Steel (Tisco) for a high-end special steel production base. This occurred at the 4th Digital China Construction Summit in Luoyuan County, Fuzhou city.

Kallanish learns the base is designed to produce 3 million tonnes/year of stainless steel products after completion. These will mainly be 300 series, 400 series, duplex stainless steel and other high-end stainless steel products.

The total investment is CNY 10 billion ($1.56 billion).

Luoyuan Bay Development Zone aims to be a base with annual steel industry revenue of CNY 100 billion. Baosteel Desheng and Luoyuan Minguang are the main plants in the area currently.