BIZCHINA / Overseas Investment
Australian steel firm opens plant in Suzhou
(Shanghai Daily)
Updated: 2006-10-18 14:24
Austrilia's BlueScope Steel Ltd will open a flat steel metallic coating
and painting facility in Suzhou today to tap increasing Chinese demand.
The facility cost 280 million Australian dollars (211.1 million U.S.
dollars) and is the company's biggest manufacturing facility in Asia.
The plant is located at the Suzhou Industrial Park in Jiangsu Province,
80 km west of Shanghai.
The new midstream facility has an annual metallic coating capacity of
250,000 tons and painting capacity of 150,000 tons and will provide
employment for approximately 300 local people, according to a company
statement.
It will produce a range of products for China's rapidly growing building
and construction markets as well as supply BlueScope's own downstream
network of operations, the statement said.
The plant "enables us to produce tailored product offerings to respond
even more quickly to market developments and opportunities," the
statement quoted Kathryn Fagg, the company's president for Asian building
and manufacturing markets, as saying.
A Shanghai analyst said foreign steel companies had more opportunities to
make high-end and tailored products in the Chinese steel market.
Last month, French steel pipe maker Vallourec SA said it would build a
plant to make products to serve China's oil and gas companies in
Changzhou, which is also in Jiangsu Province.
(For more biz stories, please visit Industry Updates)
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