It is reported that Chinese company Xinxing Ductile Iron Pipes Co has announced that it is to complete the first phase of its 3 million tonnes special steel project by the end of 2011.

Total investment in the project is CNY 9.01 billion. Work on the first phase began in February this year with CNY 2.14 billion being invested up to July. The first phase of the project will have an annual production capacity of 1.2 million tonnes.