en.Wedoany.com Reported - Recently, the Jiaxing Municipal Bureau of Ecology and Environment in China issued an approval opinion on the environmental impact report for the Green High-End Nickel-Chromium New Materials Intelligent Manufacturing Project (Phase II) of Zhenshi Group Dongfang Special Steel Co., Ltd. The project has a total investment of 382,399.88 million yuan and is located in Xinfeng Town, Nanhu District, Jiaxing City. The project plans to procure equipment such as vacuum induction furnaces, electroslag furnaces, and cold rolling mill groups, forming a production capacity of 1 million tons of cold-rolled white coils and 35,200 tons of special smelting.
Zhenshi Group Dongfang Special Steel Co., Ltd., controlled by Zhenshi Holding Group and with Hangzhou Iron & Steel Group as a minority shareholder, is a mixed-ownership high-end steel manufacturer. The project has a total investment of 16.1365 billion yuan and plans to utilize the existing plant area of Dongfang Special Steel (with all existing projects demolished and rebuilt) and additional land, covering a total area of 2,256.5 mu (with 1,465 mu of newly added land). Upon completion and operation of the first phase, the project will achieve an annual production capacity of 2.5125 million tons of steelmaking, 310,000 tons of hot-rolled medium plates, and 2.058 million tons of hot-rolled white coils. The project plans to use 100% green electricity, establishing the industry's first zero-carbon stainless steel intelligent manufacturing factory.
Zhenshi Holding Group is among China's Top 500 Private Enterprises, with ten major industrial sectors including special steel, nickel-iron manufacturing, and mineral resources. Hangzhou Iron & Steel Group, founded in 1957, achieved a total revenue of 282.015 billion yuan in 2025.
The joint development of the green high-end nickel-chromium new materials intelligent manufacturing project by the two steel giants is a significant initiative by Zhejiang Province to promote the green transformation and high-end development of the steel industry.
