Anhui Province to push forward steel industry reorganization and mergers

Wednesday, 18 August 2010 17:38:51 (GMT+2)

Following reorganization, technological upgrading and backward capacity elimination, the steel industry in the Chinese province of Anhui has indicated positive results. Accordingly, the total output value of Anhui's steel industry in the first half of the current year reached RMB 87.547 billion, up 47.51 percent year on year, including total added-value output of RMB 25.609 billion, up 24.73 percent on the same period of the previous year.

Meanwhile, the Anhui provincial authorities have lately published a file entitled ‘Steel Industry Adjustment and Renovation' aimed at further pushing forward adjustment and renovation of the local steel industry. According to the plan, the province of Anhui encourages large steel enterprises to form trans-regional and cross-industry group within the scope of merger and reorganization activity.

In addition, Masteel Group, Huaibei Minerals Group and Wanbei Coal-Electricity Group are merging and cooperating to push forward the integration of the local steel industry and coal industry in Anhui. 

The Anhui provincial government also states that it seeks to eliminate backward steel output capacities as well as enterprises with high emissions, and also to restrict newly built output capacities. 

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