A RMB1.1 billion magnesium alloy project to be built in Macheng
2019-09-10 17:19:35 [Print]
On the morning of September 6, government of the Hubei-based Macheng city held a signing ceremony for two magnesium projects, including a Mg-alloy auto hub project and a magnesium bar production project.
As investor for the Mg-alloy auto hub project, Haike Magnesium Industry (Macheng) Co., Ltd. will invest RMB1 billion (USD141 million) into constructing full-automatic forging, mechanic processing and coating production lines on flexible auto hubs, and when the project is built, it will have an annual production capacity of 1 million Mg-alloy auto hubs. The project will be built in two stages. Stage One will have an investment of RMB500 million (USD70.38 million), and will have an annual production capacity of 500,000 Mg-alloy auto hubs and an expected production value of RMB400 million (USD56.30 million); when the whole project is built, it will have an estimated annual production value of RMB1.5 billion (USD211 million) and contribute an annual taxation of RMB30 million (USD4.22 million).
With an investor of Youli (Macheng) New Material Technology Co., Ltd., the magnesium bar production project will focus upon producing raw materials used in Mg-alloy auto hub production. The project will have a total investment of RMB100 million (USD14.07 million) and will be built within six months. When it goes into production, it will have an estimated annual production value of RMB500 million (USD70.38 million) and contribute an annual taxation of RMB10 million (USD1.41 million).
As investor for the Mg-alloy auto hub project, Haike Magnesium Industry (Macheng) Co., Ltd. will invest RMB1 billion (USD141 million) into constructing full-automatic forging, mechanic processing and coating production lines on flexible auto hubs, and when the project is built, it will have an annual production capacity of 1 million Mg-alloy auto hubs. The project will be built in two stages. Stage One will have an investment of RMB500 million (USD70.38 million), and will have an annual production capacity of 500,000 Mg-alloy auto hubs and an expected production value of RMB400 million (USD56.30 million); when the whole project is built, it will have an estimated annual production value of RMB1.5 billion (USD211 million) and contribute an annual taxation of RMB30 million (USD4.22 million).
With an investor of Youli (Macheng) New Material Technology Co., Ltd., the magnesium bar production project will focus upon producing raw materials used in Mg-alloy auto hub production. The project will have a total investment of RMB100 million (USD14.07 million) and will be built within six months. When it goes into production, it will have an estimated annual production value of RMB500 million (USD70.38 million) and contribute an annual taxation of RMB10 million (USD1.41 million).
Magnesium Alloy AZ91D EXW China
Unit:RMB/mt
China magnesium alloy producers' output statistics by month
Unit: mt
