It's reported that Chinese steelmaker Wuhan Iron and Steel Group (Wisco) has announced to invest approximately US$6.2 billion for improvement of steel production process and technology upgrades in Hubei area by 2015.
Basically, the company has invested a total of US$13.3 billion in upgrading project construction in Hubei Province.
Meanwhile, the new project will also include steel, energy, information, and others.
Wisco expects to become more competitive in market against others through the upgrade project.