Korea Iron & Steel Wire, the second largest maker of high carbon steel wire rods in the world, is set to build a steel tire cord plant in Chingtao, China scheduled to be brought on stream in July next year.Specific details including the project scope and capacity are not made available yet but the Korean maker is reported to have plans to build three manufacturing facilities in total in China to produce bead wire and spring wire, in addition to tire cord. As the Chinese market for wire products is expected to grow fast with such positive actors as the country's entry to the WTO and the 2008 Olympics, the company plans to attain an annual production of some 100,000 tons of high carbon wire rods in five years.
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