Inner Mongolia region-based Chinese steelmaker
Baotou Iron and Steel Group (Baogang Group) has outlined its main targets for 2011.
Accordingly, in 2011,
Baotou Iron and Steel is targeting sales revenues of RMB 51 billion ($7.75 billion), a
pig iron output of 10.55 million mt, a
crude steel output of 10.35 million mt and a finished steel output of 9.85 million mt. In addition, in the year in question
Baotou Iron and Steel plans to reduce its costs by RMB 1.5 billion ($0.23 billion) and to make fixed assets investments of RMB 10 billion ($1.52 billion).
In 2010,
Baotou Iron and Steel posted sales revenues of over RMB 45 billion ($6.84 billion), and achieved record outputs of
crude steel and
pig iron.