Baotou Yili New Energy Equipment Manufacturing Co., Ltd. is progressing with its high-performance electrical steel project in Baotou, China, with an investment of CNY 502 million. The construction began in January last year and is scheduled to be completed by June this year.

The project includes a 400,000-ton high-magnetic induction silicon steel normalizing and pickling line and a 160,000-ton high-magnetic induction silicon steel cold rolling line. Its main product, high-magnetic induction silicon steel, is crucial for permanent magnet synchronous motors and generators, and is exported to countries including Thailand, Turkey, India, and Malaysia.

With about 40% of the project completed, including foundation work and plant construction, the facility is on track. Once operational, it is expected to generate CNY 2.5 billion in annual revenue.