Baosteel aims for 50 million-ton production capacity by 2010
According to market sources, Baosteel aims to increase its annual production capacity to 50 million tons by 2010. As SteelOrbis previously reported back in April, Baosteel had announced a goal of 30 million tons annual production capacity by 2010. However, now Baosteel officials are reporting that the current expansion projects already under construction or soon to be started will guarantee that Baosteel will reach 30 million-ton annual capacity by 2010. On top of these projects, Baosteel officials state that the company hopes to reach its 50 million-ton goal with plans to build an additional one to two new steel plants, one to be located in Brazil and the other in China's Zhejiang Delta. In addition, Baosteel is also considering mergers or acquisitions of international steel producers with strong potential.