Shanghai Krupp Stainless Co., Ltd. will begin commercial operations in 2002. The company is a joint venture between the ThyssenKrupp group company Krupp Thyssen Stainless GmbH, Duisburg, (60% - shareholder) and the Baosteel group company Shanghai Pudong Iron & Steel (Group) Co., Ltd., Shanghai (40% -shareholder). The completion of the project is scheduled for the end of the year 2006. The first phase, with a production capacity of 72,000 tons per year of cold rolled stainless steel and strip, shall be competed by the end of 2001. The start-up of commercial production is scheduled for the beginning of the year 2002.