China Steel plans $12.8m investment for coil centre in east China
Taiwan’s China Steel Corp plans to invest $12.8 million to set up a coil shearing and distribution centre in Jiangsu province’s Kunshan city in mainland China.
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The move is to expand its sales channels as well as establish sales bases in east China, the Taiwanese steelmaker said in a statement on Friday March 21 following a board meeting earlier in the day.
The coil centre – of which it will have 80% ownership – will be set up through China Steel Asia Pacific Holdings in Singapore, CSC said.