Xingtai Iron & Steel Corp has started building a RMB1.2bn ($175.6M) stainless steel plant.

Phase-1 will cost RMB600M ($87.8M) and is scheduled for completion by October 2010. It will be equipped with a 70t melting furnace, a Siemens VAI continuous caster with a 9m radius, a 60t AOD furnace and a LF.

The initial capacity is designed for a 350kt/y continuous billet caster, with steel including grades 200 series, 300 series and 400 series stainless steels, and steel cord and carbon steel (ESR) as well.

Source: China Metals e-mail