The cost of the project will be $50 million, but the Chinese company's total investment will be $360 million, according to the CPEC Directorate and the Rashakai Free Economic Zone, where the business will be located. It will mainly be invested in the creation of infrastructure.
Century Steel will produce up to 250,000 tons of rebar per year and will need to meet local needs for these products. Therefore, the plant will be located near the highway connecting Pakistan and China.
Fuzhou is not the first foreign project for Julitaihe. According to Pakistani media, the company has metallurgical enterprises in Indonesia, Myanmar, Cambodia and Ethiopia with a capacity of about 3 million tons per year.
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