Valin Steel announced that the company's subsidiary Valin ArcelorMittal Automobile Board Co., Ltd. plans to implement the third phase of the automobile board construction project to build a high-efficiency vacuum coating production line with an annual production capacity of 850,000 tons and a continuous annealing line with an annual production capacity of 1 million tons and supporting facilities. The total investment of the project is estimated at 3.147 billion yuan. The funding source is 50% of the company's own capital, 50% bank loans, and the construction period is 28 months. After the project is put into operation, the annual galvanizing production capacity of the automotive board company will increase from 2 million tons to 3 million tons. The bill was reviewed and approved by the 12th meeting of the 9th board of directors of the company, and there is no need to submit it to the shareholders' meeting for consideration.

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