Anshan Steel inks framework deal with China Gezhouba Group

Liaoning Province-based Chinese steelmaker Anshan Steel Group has signed a comprehensive strategic cooperation framework agreement with Wuhan, Hubei-based China Gezhouba Group, one of the largest Chinese construction contractors.
 
In line with the agreement, Anshan Steel Group and China Gezhouba Group will seek out opportunities for cooperation in construction projects, and in domestic and overseas development programs. Based on their respective requirements, both groups will provide support to each other's subsidiaries.
 
In 2010, Anshan Steel produced 30.73 million mt of pig iron, 30.22 million mt of crude steel and 28.77 million mt of finished steel products. Its export contract tonnages for steel products in 2010 reached 1.81 million mt, with a total value of RMB 1.24 billion ($153 million). The sales revenues of Anshan Steel in 2010 amounted to RMB 151.3 billion ($23.2 billion), while its gross profit for the year was RMB 4.957 billion ($759 million). By 2015, Anshan Steel targets an annual steel production capacity of 60 million mt and a self-sufficiency rate of 65 percent in terms of supplies of iron ore concentrate.