Angang to accelerate reorganization of Fujian Sangang

Monday, 25 January 2010 17:21:23 (GMT+2)

Following the cooperation agreement previously inked between Liaoning Province-based Chinese steelmaker Angang and the government of the southeastern Chinese province of Fujian, Angang's reorganization of steelmaker Fujian Sangang is expected to yield results soon.

Early in 2006 Angang signed a cooperation framework agreement with the Fujian government in relation to the reorganization of Fujian Sangang; however, subsequently the reorganization in question was postponed again and again. Insiders at Fujian Sangang have stated that Angang again started to renew contact with them on the issue of reorganization at the end of 2009.

Fujian Sangang is the largest steel mill in Fujian Province, with its main products including wire rod and other construction steel products. In 2009, the mill recorded a finished steel output of 4 million mt.

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