Valin Iron and Steel decided on August 17 to make some adjustments in a plan reached with ArcelorMittal on June 27, 2008 to jointly invest five billion yuan in a Hunan-based auto sheet plant consisting of cold rolled and hot-dip galvanized lines with a registered capital of two billion yuan. Given changing conditions, however, the mill has planned to trim the total investment in the project to 4.5 billion yuan and the planned registered capital to 1.53 billion yuan. The project will have an annual capacity of 1.2 million tons and is due to be completed at the end of 2010.