Baoshan Iron and Steel plans to expand its capacity
According to recent news in the market, Chinese steel mill Baoshan Iron and Steel announced that it is planning to expand its capacity by 50% in the next five years taking
China's importance in steel industry into consideration.
A company official stated that, the company will spend Yuan 50-60 billion ($6-7.2 billion) for the expansion by 2010. The annual capacity will be expanded to 30 million tons from the expected 20 million tons for 2004.