AVIC Heavy Machinery announced today that the company’s 38.46%-owned subsidiary, AVIC Shanghai Metals Recycling Technology Co., Ltd., plans to invest in the construction of renewable strategic metals and alloys projects with a total planned investment of 3.27 billion yuan.
The announcement said that on 20th August, CNAC signed an agreement with the Qinghe County Government of Hebei Province on the framework for the construction of AVIC's reclaimed strategic metal and alloy engineering framework. AVIC Shanghai University plans to build a strategic recycling metal and alloy project in Qinghe County. This project aims to leverage the listed company’s industrial advantages in equipment manufacturing and aerospace materials to create strategic metal and alloy scrap recycling and strategic metals and alloys. Material R & D and manufacturing two bases. The above plan has a total investment of 3.27 billion yuan. The total construction area is 368,000 square meters. After the project is put into operation, it can realize the recycling of 330,000 tons of strategic metal and alloy scrap, forming an annual output of 10,000 tons of special alloy, 10,000 tons of special precision castings, 10,000 tons of titanium alloys, and high-grade special steel 15 Million t, a variety of intermediate alloy production capacity of 150,000 tons.
According to the plan, CNAC vigorously strived to form a production capacity of 330,000 tons of recycled metal and alloy annually at the end of the “Twelfth Five-Year Plan†period. In 2015, it will achieve sales revenue of 3 billion yuan; in 2020, it will achieve sales revenue of 11 billion yuan.
The announcement said that on 20th August, CNAC signed an agreement with the Qinghe County Government of Hebei Province on the framework for the construction of AVIC's reclaimed strategic metal and alloy engineering framework. AVIC Shanghai University plans to build a strategic recycling metal and alloy project in Qinghe County. This project aims to leverage the listed company’s industrial advantages in equipment manufacturing and aerospace materials to create strategic metal and alloy scrap recycling and strategic metals and alloys. Material R & D and manufacturing two bases. The above plan has a total investment of 3.27 billion yuan. The total construction area is 368,000 square meters. After the project is put into operation, it can realize the recycling of 330,000 tons of strategic metal and alloy scrap, forming an annual output of 10,000 tons of special alloy, 10,000 tons of special precision castings, 10,000 tons of titanium alloys, and high-grade special steel 15 Million t, a variety of intermediate alloy production capacity of 150,000 tons.
According to the plan, CNAC vigorously strived to form a production capacity of 330,000 tons of recycled metal and alloy annually at the end of the “Twelfth Five-Year Plan†period. In 2015, it will achieve sales revenue of 3 billion yuan; in 2020, it will achieve sales revenue of 11 billion yuan.
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