New steel projects to spring up in China: CISA
Metal Recycling News | 2012-02-23 07:21:03
A handful of steel projects are being established in Xinjiang. Shandong Laiwu Steel is in the process of building an integrated steel plant of three million tons per year, which is slated for completion at the end of October, said China Iron and Steel Association (CISA).
By Paul Ploumis
BEIJING (Scrap Monster): A handful of steel projects are being established in Xinjiang. Shandong Laiwu Steel is in the process of building an integrated steel plant of three million tons per year, which is slated for completion at the end of October, said China Iron and Steel Association (CISA).
According to CISA, other projects include Xinxing Ductile Pipe's specialty steel facility, Xinjiang Ale 359 Steel Company, Baosteel's OCTG project in Karamay, Bayi Baicheng Southern Xinjiang Steel Complex, Shougang Yili long product project and Xinyu Steel's Ganxin steel project in Kezhou.
CISA also added that Shandong Iron and Steel Group pledged to complete merger procedures with Rizhao Steel by 2013. Rizhao Steel, which obtained a profit of 3.45 billion yuan last year, now acts as a trustee in charge of running Yingkou Medium Plate Company owned by Minmetals Corporation. The steel mill will strive for the goal of becoming a top quality steel complex within this year.
