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[Ferro-Alloys.com] Valin ArcelorMittal Automotive Steel Co Ltd, or VAMA, a joint venture between Luxembourg-based ArcelorMittal and State-owned Hunan Valin Steel Co Ltd, announced last week an expansion of its facilities in Loudi, Central China's Hunan province, through the addition of a new innovative coating line.
With total investment of 1.07 billion yuan ($165 million), the new production line, scheduled to be operational in July 2022, will be able to manufacture corrosion-resistant steel. It will increase VAMA's capacity to produce high-strength steel for the Chinese automotive industry by 450,000 metric tons a year, according to a statement released by VAMA.
The new coating line will support VAMA's ambition to become one of the largest suppliers to China's automotive market. The country is already the world's largest automotive market, with forecasts indicating anticipated annual growth of at least 6 percent in the coming decade.
The Chinese automotive market is growing rapidly, with customers' expectations increasing as they seek suppliers which can support their transition to low-emissions vehicles, said Lakshmi Mittal, chairman and CEO of ArcelorMittal.
Source: Xinhua
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