The subsidiary of Hegang Steel Co., Ltd. (000709.SZ) plans to invest 7.967 billion yuan to build a wide and thick board project

According to Zhitong Finance App, Hegang Group (000709.SZ) issued an announcement. In order to optimize the company's product structure, build a high-quality, efficient, green and intelligent domestic production base featuring various types of steel, and continuously enhance the company's market competitiveness, the holding subsidiary of the company, Hegang Leting Steel Co., Ltd. (hereinafter referred to as “Legang Company”) plans to invest in a new 5,600 mm hot-rolled wide plate production line, with a construction investment of 7.967 billion yuan. After completion, the project can produce 2.42 million tons of qualified finished products per year.

The product varieties of the wide and thick plate project are mainly high-end products such as ships and offshore engineering boards, wind power towers, and low alloy steel structural panels, which are complemented by other products such as carbon structural plates, construction machinery boards, pipeline steel, etc., which helps to further optimize the company's product structure, promote transformation and upgrading to high value-added products, and significantly enhance the market competitiveness of the company's products.