Liaoning-based Chinese steel producer Anshan Steel (Angang) has announced that it is aiming to raise its annual steel production capacity to 60 million mt by 2015.
According to its statement, the group is planning to expand its product ranges with increased emphasis on applications in sectors such as automotive, railway, petroleum and petrochemical, home appliance, shipbuilding, electrical steel, containers, mechanical and precision tubes and pipes, mould steel, etc. Meanwhile, the group is also aiming to become more than 65 percent self-sufficient in supplies of iron ore concentrate by 2015.
Currently, Angang has an annual capacity of 32 million mt, following the acquisition of Sichuan-based Panzhihua Steel (Pangang). This means that the group will have to build new capacities and acquire further steel capacities in order to meet its target of 60 million mt within the next five years.
Apart from steel products, Angang is also putting emphasis on the key vanadium titanium products of Pangang, targeting annual production of 45,000 mt of vanadium products, 1 million mt of titanium concentrate, 510,000 mt of titanium dioxide and 10,000 mt of titanium products by 2015.