Baowu Group to make TISCO most competitive stainless producer in China

Tuesday, 05 January 2021 14:33:12 (GMT+3)   |   Shanghai
       

The State-owned Assets Supervision and Administration Commission of China’s Shanxi Province has announced that major Chinese steelmaker Baowu Group will set up a headquarters in Taiyuan aiming to build up Taiyuan Iron and Steel (TISCO) into the most competitive stainless steel enterprise in the whole industrial chain in China within five years.

Accordingly, Baowu Group will increase the allocation of various resources, give full play to synergy, and comprehensively consolidate the advantages of TISCO in mining resources, technology research and development, manufacturing, brand, location and other aspects through resource concentration and optimal allocation and efficient operation of industrial factors, in order to achieve the abovementioned target within five years.

The current total capacity of TISCO is 12 million mt per year, including 4.5 million mt of stainless steel capacity. In 2019, TISCO's crude steel output amounted to 10.86 million mt.


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