CSC Constructs New Coil Center in Southeast China

Taiwanese largest steel maker, China Steel Corporation (CSC) will construct a new steel coil center in Chongqing, China in cooperation with Marubeni-Itochu Steel, Japanese major business house, and Panzhihua Iron & Steel, Chinese major steel maker. CSC will build up sales network for steel sheet around southwest area of China and aims to enhance the competition power. The new coil center is scheduled to process over 100,000 tonnes per year. CSC’s group company also holds shares in existent coil centers in South China and East China.New coil centers’ capital fund is US$ 13.5 million or about 1.558 billion yen. CSC’s group company takes about 19% stake in the capital fund. Marubeni-Itochu Steel will also invest. CSC will meet the demand from the consumers in southwest of China and supply steel sheet which Panzhihua Iron & Steel can’t produce to the new coil center. The new coil center is expected to start operation in 2008.