Valin Steel and ArcelorMittal, the world's second largest steelmaker, plan to build the second phase of the project.

Valin Steel, a listed company of Hunan Valin Iron and Steel Group Co., Ltd., the largest state-owned steel enterprise in Hunan Province, announced on January 29th that its subsidiary Valin ArcelorMittal Automobile Plate Co., Ltd. plans to implement the second phase of the construction project. the total investment of the project is estimated at 1.0700277 billion yuan.

After the project is put into production, the production capacity of acid rolling line of Automobile Plate Company will be increased from 1.5 million tons to 2 million tons per year, and the production capacity of galvanizing line and continuous withdrawal line will be increased from 1.15 million tons to 1.6 million tons.

The Automotive Plate Company was established in September 2010 by Valin Iron and Steel and the global steel giant and automotive plate leader ArcelorMittal, with a shareholding ratio of 50% and 50%, focusing on the mid-and high-end automotive plate market.