This year, Huaxin Lihua officially launched the expansion plan of the Waxberry Wire and Cable Wisdom Factory in Taiwan and the Shandong Yantai stainless Steel Plant in China. the amount of investment between the two sides of the strait in the next three years exceeds NT $13 billion.
Huaxin Lihua plans to set up a stainless steel integrated production process in Yantai, Shandong Province, mainland China in 2019, with a capital expenditure of NT $70 to NT $8 billion, but it has been delayed by the epidemic. The expansion project of the Shandong Yantai stainless Steel Plant has started to build a plant this year, with an investment of more than NT $7 billion. It is estimated that in the next three years, the investment in the expansion of smart factories and stainless steel plants on both sides of the strait will be at least NT $13 billion.
Huaxin Huawei owns the raw material source of stainless steel. in 2020, Huaxin Huawei spent at least US $500 million to build an annual nickel pig iron plant with an annual production capacity of 36000 tons in the Castle Peak Industrial Zone of Indonesia. All four nickel metal production lines have been opened in 2021. The self-built power plant will also be completed in 2021 and will be officially put into operation in January 2022. This year, the goal is to fully open the nickel metal production capacity.
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