China's Jiangsu Shagang plans $2.25b Henan province consolidation drive

China's Jiangsu Shagang plans $2.25b Henan province consolidation drive

Beijing, China. Source: Li Yang/Unsplash

China‘s biggest private steel producer, Jiangsu Shagang Group, said on Monday it will invest 14.8 billion yuan ($2.25 billion) in buying up and modernising steel mills in central Henan province in a project to create a high-end manufacturing base.