A commencement ceremony for a project with an annual production of 600,000 metric tons of precision stainless steel sheets and strips took place in Hai'an, a county-level city in Nantong, East China's Jiangsu province on Dec 18.

The project, located in the Hai'an Economic Development Zone, is jointly funded by Wuxi Huashangtong Electronics Co Ltd and Guangxi Beibu Gulf New Materials Co Ltd with a total investment of 1 billion yuan ($139.98 million), including 440 million yuan for equipment.

The project currently features a globally-leading five-stand cold continuous rolling mill and an internationally-top-notch high-speed fully-continuous cold strip annealing and solid solution production line. It incorporates advanced Swedish solid solution recovery and recycling technology, which will help the project achieve zero emissions.

Construction on the project started in October in 2022 and is close to completion. It is expected to generate annual taxable sales of over 10 billion yuan.

A commencement ceremony for the project is held in Hai'an, a county-level city in Nantong, Jiangsu province. [Photo/WeChat account: hafbwx]