Hunan Valin Steel Tube & Wire Co, partly owned by the world's biggest steel producer Arcelor Mittal, will invest about 1.7 billion yuan building roads and steel plants. The money will be used for two projects at Valin's unit, Hengyang Valin Steel Tube Co, the company said in a statement to the Shenzhen Stock Exchange yesterday. Valin Steel will use its own capital for the projects.

(For more biz stories, please visit Industry Updates)