BEIJING--March 3, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Xingtai Iron & Steel Company Limited (Hebei, China) will invest 13.2 billion yuan (US$1.9 billion) in a steel-plant project that involves closing and replacing three smelting-reduction furnaces, three 100-ton electric furnaces and other supporting facilities.

Construction is scheduled to begin in the second quarter of this year, and production is expected in 2024.