Northern Chinese steelmaker Hebei Iron & Steel Group (Hebei Steel) has announced that it has decided to establish four new steel bases in the next three to five years, following a company meeting on product development on August 31. The period covers the company's 12th five year plan.
Each steel base will specialize in an area and include the subsidiaries producing those products. Accordingly, the bases will be: premium plate base, construction steel base, special steel base and vanadium titanium base.
Hebei Steel plans to fully optimize its technology base, product quality and product mix in the next three years. In this context, Hebei Steel plans to increase share of the high value-added steel products in its product mix. The company aims to increase the proportion from today's 60 percent to 75 percent by 2013 and 90 percent by the end of the 12th five year plan period.