The China Steel Corp. (CSC) is planning to invest US$486 million to open a new production line for motor-use electrical sheet steel in the southern port city of Kaohsiung, home of its headquarters and factories, an economic affairs official has said.
Taiwan’s largest steel maker initiated the investment project in anticipation of a surge in the global green market for electric- powered vehicles and wind power, said Chiu Chiou-hui, head of the Metal and Mechanical Division of the Industrial Development Bureau under the Ministry of Economic Affairs. Chiu said the planned production line will produce 150,000–200,000 tonnes of electrical sheet steel per year. Construction of the new factory, expected to create more than 1,000 jobs, is scheduled to be completed in 2013, he noted.