On Mar.5th, Tsingshan Holding Group signed a contract with Fu’an Municipal Government to set up a 300,000 tons of Iron-Chromium-Nickel project in Wan Wu town of Fu An city. The total investment of this project will be around 600,000,000 RMB, and the project covers an area of about 50,000 square kilometers. It will apply the AOD converter to smelt the ferro-chromium-nickel alloy, which is the main material for stainless steel production. It is estimated that after the completion of this project, the annual production value could reach three billion yuan, and VAT could reach 240 million Yuan, which forms a local economy income of 60,000,000 Yuan.