Bayi Steel starts construction on metal product processing facilities

Xinjiang Uyghur autonomous region-based Chinese steelmaker Bayi Iron and Steel Co. (Bayi Steel), a subsidiary of major Chinese steel group Baosteel, has announced that on March 28 construction work commenced on its two planned metal product processing bases, located in Kashgar and in the county of Bachu, both in Xinjiang. The overall annual processing capacity of the two bases will reach 1 million mt.
 
Investment in the Kashgar base will total RMB 1 billion ($159 million) and will be divided into two phases: one will be completed within the current year and the other is expected to be completed in 2015.
 
In 2011, Bayi Steel's sales volume of finished steel totaled 6.493 million mt, of which 5.173 million mt was sold in Xinjiang. By 2015, the company plans to increase its production capacity to 10 million mt.