Hebei Iron and Steel Group, China’s second largest and the world’s fifth largest steel mill, started construction of a 2.17 billion yuan cold rolled project in Wuyi County, Hengshui City on May 7. The first phase, costing 593.7 million yuan, will produce 250,000 tons of cold rolled sheet and attain sales revenue of 1.387 billion yuan per year. This is one of the major strategies for the group to consolidate the local steel industry and will inevitably play an active role in boosting the economic growth of both the city and Hebei Steel Group, said Gao Hongzhi, mayor of Hengshui City