Baosteel completes first phase of stainless steel project
According to recent news in the market, Chinese mill
Baosteel Group's affiliate Shanghai No 1 Iron and Steel Co Ltd (BGYG) has recently completed first phase of its
stainless steel project and now possesses world's leading carbon steel hot rolling technologies.
The
construction, which was commenced in September 2000, took two and a half year. For the project, company invested Yuan 11.78 billion ($1.42 billion).
With the completion of the first phase, BGYG has now possesses a 1780 mm hot rolling
production line with an annual capacity of 2.57 million tons of steel. This amount covers the average
stainless steel
production of 720'000 tons. With this technology, it is expected that
China's need for imported
stainless steel will diminish.
According to certain experts, the company has world's most advanced
stainless and carbon steel hot rolling
production line.
Meanwhile, second phase of
stainless steel project has recently started.