Sutor Technology won USD 8.6 million contract
- Details
- Category: Ningbo Business
- Published: Thursday, 11 April 2013 08:18
Sutor Technology Group Limited a leading China based manufacturer and distributor of high end fine finished steel products and welded steel pipes used by a variety of downstream applications announced its subsidiary Ningbo Zhehua Heavy Steel Pipe Manufacturing Co Ltd won a contract to supply 11,440 meters of spiral seam steel pipes for a water transmission pipeline project in Zhuji City, Zhejiang Province. The contract is valued at approximately USD 8.6 million. Deliveries are expected to begin in April 2013.
Mr Lifang Chen chairwoman and CEO of Sutor commented that "We are pleased that following a bid process, Ningbo Zhehua won this major contract to supply its spiral seam steel pipes for this vital urbanization project for the city of Zhuji. This win is a demonstration of the high quality and brand recognition of our products. Ningbo Zhehua facility manufactures a variety of steel pipes, has six production lines and a total annual capacity of 400,000 metric tons. Ningbo Zhehua's large diameter steel pipe production line uses one of the most advanced technologies in the steel pipe industry."
Ms Chen continued that "Improvement and expansion of water infrastructure remains an important element of China's urbanization plan which continues at an unprecedented rate. Currently China's urbanization ratio is approximately 48%, well below the 85% in the developed economies and the global average of 55%. The scale and pace of China's ongoing urbanization and the growth in domestic consumption are expected to drive the need for greater infrastructure investments and should increase the demand for a variety of high-end steel products. Sutor is well positioned to take advantage of these growth opportunities as our products are used in a variety of industries such as construction (buildings, bridges, water and sewage infrastructure, etc), oil and gas, household appliances, solar water heaters, medical instruments and automobiles."
Source - Sutor Technology
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