Recently, Baotai 1.1 million tons stainless steel cold rolling project, which was signed and settled in Luoyuanwan, Fuzhou, has been put on record.

The progress plan of Jinbo Yu island port industrial park in Putuo District implemented by Zhejiang Tsingshan digital science and Technology Co., Ltd. under Tsingshan holding company has been disclosed recently.

Nearly 7,000 tonnes of pipes were shipped to the US, Australia, and Canada during the period, a year-on-year rise of 31 percent.

The group has experience in large scale production, material resources and manufacturing. These factors have ensured high quality and reasonable prices for its cargo.

“This will remove a major bottleneck in transportation of LMO to states. As on date, 1172 tankers are available for LMO, with the capacity 15900 MT,” the statement said.

India's primary steelmakers have increased their share of exports in Q4 amid rising international steel prices.

Last week, a Tata Steel spokesperson had said the company was supplying 300 tonne of LMO daily to various states.

The project is expected to be built in three years and become operational in 2024.