Baoshan to increase capacity
According to latest reports from the industry, one of the major Chinese steelmakers Baoshan Iron and Steel Group is intending to spend approximately $ 1.5 billion in order to become most competitive in the international market.
This will happen through two projects involving
construction of a wide and heavy
plate rolling
production line and auxiliary casting facilities as well as a cold rolled belt steel project, in order to increase the
production capacity to meet the growing demand in the Chinese market.
The projects will be carried out in two steps. First part will become operative in April of 2005 with an annual capacity of 1.4 million tons, thereafter the capacity will be taken up to 1.8 million tons per year after completion of the second step in 2007.