Chinese steel giant Baosteel announced CNY 4.96 billion investment to build premium seamless steel pipe production base in Ma'anshan. The board-approved project establishes wholly-owned subsidiary Baosteel Pipe Technology targeting medium-diameter seamless pipes. This represents Baosteel's third core strategic offering, completing product portfolio diversification. The facility will serve oil & gas, petrochemical, & power generation sectors requiring high-performance steel products.