Hengyang Valin Steel Pipe to Invest RMB 2.5 Billion in Extra-Large Seamless Steel Pipe Project

Chinese steel producer Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that its subsidiary, Hengyang Valin Steel Pipe, plans to invest RMB 2.5 billion (approximately $350 million) in the construction of a project for seamless steel pipes with particularly large diameters.

The project, expected to be completed within 18 months, will enable the production of pipes with outer diameters ranging from 323 mm to 610 mm and wall thicknesses of 7.3 mm to 60 mm. The financing will be secured through bank loans amounting to RMB 1-1.5 billion ($140-210 million), a shareholders’ capital increase of RMB 1 billion ($70 million), and the company’s own funds.

With this project, Hengyang Valin Steel Pipe aims to expand its production capacities and meet the demand for seamless steel pipes on a larger scale.