On April 12, Shougang Concord Century Holdings Limited and relevant departments of Tengzhou Municipal Government reached a preliminary consensus and signed a memorandum of understanding that Shougang Concord Century would invest to build a steel cord production line with the annual output of 100,000 tons in the first half of this year, including building a yellow wire (semi-finished or products in process of steel cord) production line with the annual output of 20,000 tons.
The Eastern Steel Cord Project, located in Tengzhou Economic Development Zone, was solely invested by Shougang Concord Century Group in 2008, with the annual output of 100,000 tons of steel cords and covering an area of 350 mu. On January 14, the environmental protection department of Tengzhou also approved Eastern Steel Cord to invest RMB 300,000 Yuan for building sludge drying project. After completion, 1,200 tons of sludge will be dried (moisture content of 70%).
