Ansteel decided to invest 3.80 billion yuan to set up a wholly-owned subsidiary in Putian, Fujian. The new branch, named Ansteel Cold Rolled Sheet (Putian) Co Ltd, will contain a pickling mill, a cold rolled continuous annealing mill, a galvanized mill, two recoiling mills, three packing machines and assistant facilities to produce one million tons of JIS4141 and JIS3135 standards cold rolled steel (including 700,000 tons of cold rolled coil and 300,000 tons of hot-dip galvanized coil) 0.25mm to 2 mm thick and 700 mm to 1,350 mm wide, to be used by the home appliance, auto and construction sectors. Construction of the project will take 30 months.