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31 July
Business

Steel industry of South Africa is invested from China

Chinese investors have signed an agreement on the establishment of a metallurgical complex in South Africa worth $10 billion.

Reuters reports that construction work under the project is expected to begin next year.
The project involves the creation of the production of stainless steel, ferrochrome and silico-manganese steel. The enterprises will be built on the territory of the special economic zone Musina-Makhado. The design capacity of production is 3 million tons of stainless steel, 3 million tons of ferrochrome and 0.5 million tons of silico-manganese steel per year. Along with metallurgical enterprises, a coal-fired power plant and a coke plant will be built.
It is reported that a Chinese state-owned company will be the key investor under the project, but its name has not been disclosed yet.

Resource: mc.ru
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