Recently, the EPC contract for high speed rod mill revamping project has been signed between Sinosteel engineering design & Research Institute Co., Ltd. (referred to as "Sinosteel Design Institute") and Guanggang New Material Co., Ltd. (referred to as "Guanggang New Material"), which makes a significant step forward in the cooperation between two parties. The existing rolling mill will be revamped into a high-speed rod mill with the utilization of part of the existing plant and equipment.

The project will be designed with advanced hot rolling technology from Sinosteel Equipment & Engineering Co., Ltd. (referred to as "Sinosteel MECC"),  which could ensure the zero addition of niobium and vanadium alloy to the finished bar, and greatly reduce the content of manganese alloy. The main equipments will be new type of water cooling equipment, modular rolling mill and high-speed delivery system developed by Sinosteel MECC. The rolling mill will produce rebar of Φ10mm ~ Φ40mm with the maximum designed speed of 45m/s and guaranteed speed of 40m/s.

Guanggang New Material Co., Ltd. is a subsidiary of Guangzhou Iron and Steel Group Co., Ltd. (referred to as "Guanggang Group") and has long term good cooperatiion relationship with Sinosteel MECC which has successively participated in the construction of phase I and phase II of Zhujiang steel plant, Guanggang converter project, and phase I and phase II of Guangzhou JFE steel plate Co., Ltd. After project completion, the new plant's technical and economic indicators will be raised to front row in China and become new profit growth support for Guanggang New Materials.