HBIS Laoting Steel announced a RMB 7.967 billion ($1.2 billion) investment to build a new wide and heavy plate production line. The project will use a 5,600mm hot rolling mill with an annual capacity of 2.42 million metric tons. This aims to optimize HBIS's product mix. It will create a leading domestic production base for premium plate. The investment is located in Hebei Province, China's largest steel-producing region. It targets demand from shipbuilding, infrastructure, and offshore energy sectors.