According to its newly-issued development goals for the next five years (2010-2015), Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Co., Ltd (WISCO) is aiming to reach the target of an annual steel production capacity of 60 million mt by 2015. By the year in question, the company is aiming to rank sixth among the world's largest steel producers.
To date, WISCO has already acquired the assets of Hubei Province-based Echeng Steel, Guangxi Province-based Liuzhou Steel and Yunnan Province-based Kunming Steel. The total production capacity of the corporation has so far almost reached 40 million mt. It has also carried out a strategic transition from inland to coastal areas.