The Development and Reform Commission of China's Shanxi Province has approved a feasibility report for the new stainless steel cold rolling project of Shanxi-based Chinese steelmaker Taiyuan Iron and Steel Group (TISCO).

Construction will take place at TISCO's existing facilities. The new production line will annually produce 900,000 tonnes of stainless cold rolled coil, mostly focused on ferritic stainless steel, with product specifications of 0.4-3.0mm in thickness and 1000-1650 mm in width.

Total investment will reach RMB 6.477 billion (US$1.01 billion). The new facility is expected to increase TISCO's annual sales revenues by RMB 3.414 billion (US$535.1 million). Commissioning is scheduled for September 2013.