Hengyang Valin Steel Pipe, a subsidiary of Hunan Valin Iron & Steel Co., has announced plans to invest RMB 2.50 billion ($0.35 billion) in an extra-large seamless steel pipe project. The construction, set to last 18 months, will enable production of seamless pipes with diameters ranging from 323 mm to 610 mm and wall thicknesses between 7.3 mm and 60 mm. Funding will be sourced through bank loans of RMB 1-1.5 billion, a capital increase of RMB 1 billion, and the company's own funds. This investment aims to enhance production capabilities in the steel industry.