On July 25, Liaoning Province-based Chinese steelmaker Lingyuan Iron and Steel Co. announced that it plans to offer RMB 328 million ($52 million) to acquire a raw material plant and an oxygen plant from its parent group Lingyuan Iron and Steel Group.
Accordingly, the plant producing raw materials has an annual output capacity of 546,000 mt of lime and 4.4 million mt of iron ore fines. The plant has two Maerz kilns and four vertical kilns, which mainly produce lime for steel smelting and which process blended iron ore fines for application in iron production.
The oxygen plant can produce 333 million m3 of oxygen each year.
In November last year, Lingyuan Steel bought a sintering plant from its parent group in a transaction worth RMB 673 million.