Hubei Province-based Chinese privately-owned steelmaker Three Gorges Quantong Coated and
Galvanized Plate Co., Ltd (Three Gorges Quantong) has announced that in 2010 it achieved a total industrial
production value of RMB 10.2 billion ($1.55 billion), with a pre-tax profit of RMB 230 million ($35 million).
Three Gorges Quantong mainly produces extra-thin
galvanized plates made from cold rolled steel sheets.
In May 2010, Three Gorges Quantong completed the construction of 38
production lines with a total annual
production capacity of 3.2 million mt of
galvanized steel
plate. It is expected that another 52
production lines will be put into
production by May 2011, adding a further 3 million mt of
galvanized steel
plate production capacity. In addition, by the end of this year, a 3.8 million mt capacity
steelmaking project, on which work commenced at the end of 2010, is expected to be completed. The three projects are expected to cost RMB 20 billion ($3 billion) in total. Three Gorges Quantong will thus become the world's largest producer of extra-thin
galvanized steel
plate with a total annual
production capacity of 10 million mt.