SINOSTEEL Corporation will spend over US$300 million in expansion programmes at its local ferrochrome unit, Zimasco, as the Chinese multinational plans to double output in the next three years.
Sinosteel has a 73 percent stake in Zimasco. As one of the leading ferrochrome producers in the world, it has already provided US$50 million for Phase One at Zimasco, which involves rebuilding of one of its furnaces.
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