Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel (Group) Co., Ltd has announced that it expects its sales revenues for 2010 to exceed RMB 45 billion ($6.79 billion), up 20 percent year on year.
In addition, Baotou Iron and Steel estimates its sales of steel rails in 2010 will reach 1.35 million mt, 40,000 mt more than in 2009. Furthermore, the company stated it has made many breakthroughs in sales of shipbuilding plate, boiler plate, steel for application in wind turbines, etc., with many of its products used in key national projects.
Baotou Iron and Steel (Group) Co., Ltd was initially constructed during China's first five-year plan period (1953-1957). It is the largest rare earth production base in China and the largest steel production base in western China. In 2009, its crude steel output exceeded 10 million mt.