Guangqing Nickel Alloy Project in Yangjiang City with the Investment of 1.7 billion Yuan in Progress

Since the nickel alloy project with the expected annual production capacity of 50,000 tons started in August last year,the No.1 Project of 2010 has kept a rapid momentum.The favorable weather conditions in the Spring Festival allows an early start of work at the construction site four days after Chinese lunar new year.

It is said that the nickel alloy project is one of the largest projects in Yangjiang city.It is jointly established by Guangxin Holdings Group Ltd.and Tsingshan Holding Group,The two companies are financially strong.The former is nicknamed the aircraft carrier among the foreign trade companies in Guangdong,top 500 nationwide and top 50 in Guangdong province.The latter is the largest private stainless steel producer in China,with 20 years experience of manufacturing stainless steel.The two companies jointly invested RMB1.7 billion to build the nickel alloy industrial chain and supportingprocessing project with the annual capacity of 50,000 tons.

The supporting project also includes a 50,000 tons deep water dock.Phase I of the project is expected to put into operation by the end of the year.It is estimated that it will generate the annual turnover of RMB10 billion and tax of RMB 2 billion.The project also includes phase II and phase III and the downstream industrial park.As the project is completed and fully put into operation,the annual turnover is expected to exceed RMB 30 billion,making it one of the largest bases for nickel alloy R&D.

In recent years,with the rapid development of stainless steel industry in China,there have been increasing demands for nickel alloy,but domestic supply is in shortage.Last year,the gap stood at about 400,000 tons,which has to be closed through imports.As the project in Yangjiang city put into full production,it will become the largest and most influential base for the nickel alloy and supporting product processing.