Ouyeel Lianjin Renewable Resources, a subsidiary of China's Baowu Group, has officially launched a new scrap steel processing facility in the Economic and Technological Development Zone of Yu County, Shanxi Province.
The facility, which represents an investment of RMB 386 million ($54 million) and spans 192 mu, has an annual processing capacity of 1 million metric tons. It is expected to generate an annual output value of RMB 3 billion ($0.42 billion) and will focus on recycling steel scrap and dismantling end-of-life vehicles, including advanced processing for new energy vehicles.
