21
Jan
00:00
Shangang signs Yuan 10.7bn in construction contracts for new steelworks
Eastern China’s Shandong Iron and Steel Group (Shangang) has signed Yuan 10.7 billion ($1.75bn) in contracts for its planned 8.5 million tonne/year greenfield steelworks project in Rizhao, it says. Construction on the plant, which is part of a wider plan to return the group to profitability, should be complete by the end of 2016, it adds.
Eight construction companies have been awarded contracts but Shangang did not reveal further details. In August 201…
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